An Eastern Idaho care provider has been hit with a lawsuit from the Idaho Department of Finance alleging that he defrauded the elderly.
The department alleges that Keith Rasmussen of Idaho Falls obtained more than $500,000 from at least five Idahoans amid promises that their investments were safe and would be secured by a deed of trust on elder care facilities owned and operated by Rasmussen.
The complaint states that Rasmussen formed eight companies that were engaged in the assisted living business and that "frequently he used the money for some purpose other than what he told the lender."
Companies associated with Rasmussen included Gables Management of Pocatello, Gables of Shelly and Gables of Blackfoot. Rasmussen previously operated Rasmussen Enterprises (doing business as Gables Senior Living or Gables of Idaho Falls), but that company was passed to other individuals not associated with this lawsuit.