In May, he had celebrated turning 112 years old, which makes him the oldest man in the United States.
He said it's not hard to find information on Overton with all of his notoriety but he isn't certain how the thieves got a hold of his social security number.
The world's oldest person, a 117-year-old Japanese woman, has died.
Volma Overton said he discovered this week that someone used his cousin's personal account to buy several savings bonds. He filed a police report on Friday.
The family of the nation's oldest veteran said thieves have drained his bank account. "And we looked at each other and like 'Saving's bonds?' Knowing that we had nothing to with that or Richard had nothing to do with that, but somebody else did", said Olma Overton, cousin.
He told KXAN that the family doesn't know who could be behind the theft, but he suspects it could be "someone in a foreign country". Volma wouldn't say how much money was taken but called it a "significant amount".
Fortunately for Overton, a relative set up a GoFundMe account in 2016 for his care.
Someone obtained the personal information the oldest man in the USA and used it to drain his bank account.
Born on May 11, 1906, in St. Mary's Colony, Bastrop County, Texas, Richard is the grandson of a Tennessee slave who moved to Texas upon emancipation.
The Austin Police Department are also involved and working closely with the family.