(1) DEFINITIONS. In this section: (ac) “Adult at risk” has the meaning given in s. 55.01 (1e). (am) “Elder person” means any individual who is 60 years of age or older. (b) “Financial exploitation” has the meaning given in s. 46.90 (1) (ed). (2) SEIZURE OF ASSETS. (a) If a defendant is charged with a crime that is financial exploitation, the crime involves the taking or loss of property valued at more than $2,500, and the crime victim is an elder person or an adult at risk, a prosecuting attorney may file a petition with the court in which the defendant has been charged to freeze the funds, assets, or property of the defendant in an amount up to 100 percent of the alleged value of funds, assets, or property in the defendant’s pending criminal proceeding for purposes of restitution to the crime victim. The hearing on the petition may be held ex parte. The rules of evidence do not apply in a hearing under this paragraph. (b) In the hearing under par. (a), if there is a showing of probable cause that the defendant used, was using, is about to use, or is intending to use any funds, assets, or property in a way that constitutes or would constitute financial exploitation, the court shall issue an order to freeze or seize the funds, assets, or property of the defendant in the amount calculated under par. (a). A copy of the order shall be served upon the defendant whose funds, assets, or property has been frozen or seized. (c) The court’s order shall prohibit the sale, gifting, transfer, or wasting of the funds, assets, or real or personal property of the elder person or adult at risk that are owned by or vested in the defendant without the express permission of the court. The court’s order shall be binding upon a financial institution, as defined in s. 943.80 (2), and any 3rd party that is in possession of the funds, assets, or property. (3) RELEASE OF FUNDS. At any time within 30 days after service of the order under sub. (2) (b), the defendant or any person claiming an interest in the funds, assets, or property may file a petition to release the funds, assets, or property. The court shall hold a hearing on the motion within 10 days from the date the motion is filed. The procedure under s. 968.20 applies to a petition under this subsection. (4) DISMISSAL OR ACQUITTAL. If the prosecution of a charge of financial exploitation is dismissed or if a judgment of acquittal is entered, the court shall vacate the order issued under sub. (2) (b). (5) CONVICTION. If the prosecution of a charge of financial exploitation results in a conviction, the court may order that the funds, assets, or property that were frozen or seized under sub. (2) (b) be released only for the purpose of paying restitution ordered under s. 973.20 (2).
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