I'd have to agree with your point here, last year myself and my brother found out that our oldest brother had conned our Mom out of $45K, she probably got told a sob story about how he was low on $$ and needed a loan to put his daughter in collage. Meanwhile he has over $300K in his 401K and he's over 60 so he's allowed to use it without penalty, I'm sure he conveniently "forgot" to tell my Mom that, the $45K was half her life savings. Now she's in an ALF facility that costs $3,500/mth because she has a drinking problem and cannot live alone without using. Needless to say this was shocking to myself and 2nd brother that he would scam Mom, I sent him an email explaining that her $$ was running low so he coughed up $10K and deposited it back, he also is POA and a POS in my opinion, I've made it clear to him that if I ever see him in person he will get the grade A beat-down, karma's a bitch..
This happens so much, also with UGTMA (Uniform Gift To Minor's Act) monies that a child may get for an injury/lawsuit. My first ex-wife was getting this statements in the mail when I was dating her and her father said she was just the beneficiary.
She opened one up when I told her that technically that is her money, but since was was not 18 her dad is sort of the agent for it, but that anything spent should be for her best interests.
Anyway...she found out their had been withdraws recently that coorelated to her younger sister and brother both getting braces. Further research showed when the parents bought their house the down payment came from her money as well as a couple cars.
All in all this was a little to late as she was only left with about $20k where she started with about $50k and that would have been worth about $300k based on the fund it was in had her parents not been making pretty much quarterly transfers.
The sad thing is her mother had her own fund and was awarded a higher amount (they were hit by a driver that thought the sidewalk was the road when she was a baby, her mom lost an eye and use of her arm).
The last hurrah more or less was the dad saying he was going to cover her wedding costs. That used up the last of the money.
Both her mother and his wealthy parents died shortly after both leaving the father with a ton of cash....he later 'paid her back' on part of the wedding costs of $20k with proceeds from the sale of their house and bought himself a little McMansion in a private community.