A local man is accused of embezzling more than $300,000 from a family member after a fire destroyed the victim’s house, according to officials.

Eric Borghetti, 51, of Chelmsford, has been charged with five counts of embezzlement by a fiduciary for allegedly embezzling $328,500 from a family member.

“This case illustrates one of the most common forms of elder abuse, the financial exploitation by a trusted family member,” Middlesex DA Marian Ryan said in a statement on Tuesday.

“While these violations of trust may not initially be suspected among family members, this case shows the importance of acting quickly if you are concerned,” the DA added. “Here, this defendant seized an opportunity following a large insurance settlement and was able to embezzle a huge amount of money in a matter of a few months.”

The investigation revealed that Borghetti lived with the victim at her home in Chelmsford back in September of 2019.

That’s when a fire destroyed the house and injured the victim. Shortly after the fire, the victim executed a Durable Power of Attorney (DPOA), and appointed Borghetti to act as her fiduciary and in her best interests. The language of the DPOA did not authorize Borghetti to receive compensation or gifts in connection with his duties under the DPOA.

Then the day after he was appointed as the victim’s fiduciary, he allegedly added himself as an authorized signer to the victim’s bank account. A few days later, the victim’s insurance company paid her $175,750, which was deposited into her account.

Borghetti then allegedly began to embezzle large amounts of the victim’s money from four different bank accounts through a series of transfers, check deposits and withdrawals.

On one occasion, he allegedly withdrew $84,000 — which he transferred into separate accounts held by his wife for their personal use.

In total, he’s accused of embezzling $328,500 of the family member’s money before she realized it and reported it.

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Borghetti at his arraignment on Monday was released on personal recognizance with conditions that he not travel outside New England, not apply for any new passports, and surrender any existing passports.

The next date in this case is April 24.