DAVENPORT, IA — A Davenport man, Jeremy Paul Thompson, 54, has been arrested and charged with financial exploitation of an older individual, a Class B felony, for allegedly misappropriating over $500,000 from a Marshalltown couple, both over the age of 80.
According to Marshalltown Police Department (MPD) records, the investigation began on Nov. 7, 2024, in coordination with the Iowa Department of Health and Human Services. Authorities determined that Thompson, acting with power of attorney, violated his fiduciary duty by assisting in the large-scale depletion of the victims’ funds.
Court documents state that Thompson admitted to spending the money, prompting the bank to freeze the account. His power of attorney was later revoked.
Thompson was arrested on June 8 in Bettendorf, following a June 4 warrant issued by MPD. His initial bond was set at $100,000 cash, later reduced to $25,000 cash or surety. He is scheduled for a preliminary hearing on June 20 at 9:30 a.m.
Marshalltown Police Chief Chris Jones declined to comment further, citing the ongoing nature of the investigation.
