Man accused of stealing almost $2M from elderly Cary relative sent to prison, must pay back money

A former Barrington business owner was ordered to pay almost $2 million in restitution and serve five years in prison after admitting to financially exploiting an 81-year-old relative who lives in an assisted-care facility in Cary.

Douglas R. Boncosky, 55, pleaded guilty to a single count of financial exploitation of an elderly person, a Class 1 felony. He is required to serve half of his prison term. When released, he will serve one year of mandatory supervised release. Boncosky will receive credit for 359 days spent in the county jail since his arrest, according to the judgment order filed in McHenry County court.

In exchange for pleading guilty, additional charges against Boncosky were dismissed, including two Class X felonies of aggravated identity theft against a person older than 60, as well as forgery and theft of more than $1 million, court records show.

Prosecutors alleged that Boncosky, who had been given power of attorney and authority by the relative in 2016, made transfers from the relative’s accounts into his business and personal accounts. Prosecutors alleged that Boncosky committed the offenses from 2019 to 2023.

In court records, prosecutors listed what Boncosky had authority over, including real estate transactions, financial institution transactions and stock and bond transactions. Boncosky was accused of forging the relative’s name on their checks.

“It can be argued that the defendant taking just under $2 million from the victim’s accounts and putting them in his personal accounts or his business accounts was not an act for [the relative],” prosecutors wrote in a court motion.

The relative was interviewed and said they “did not give [the] defendant permission to use this money for himself or his business.”

Boncosky was charged after two relatives told Cary police that they believed he was “involved in some criminal activity,” according to court documents. From 2018 through 2023, one of the relatives said Boncosky, who was the owner of America’s Bath Co., “had been moving money from [the relative’s] accounts without their knowledge or consent and depositing the money into his own accounts,” according to grand jury testimony.