The man charged with the first-degree murder of a disabled Alberta woman was her financial adviser, according to the victim's sister.

RCMP arrested 55-year-old Brian Malley this week in connection with the death of Victoria Shachtay of Innisfail, about 100 kilometres north of Calgary.

Brian Malley has been charged with first-degree murder in the death of Victoria Shachtay. (peggyyanew/Flickr)

Malley, also of Innisfail, faces additional charges of causing an explosion likely to cause harm or death and sending an explosive device to a person.

Shachtay, 23, was killed in late November after a package delivered to her home exploded. Her seven-year-old daughter was at school at the time and was not harmed, though Shachtay's female caregiver suffered minor injuries in the explosion.

In an interview with CBC News, Shachtay's sister, Sarah, said Victoria Shachtay had been living off $625,000 she had received as part of a $1-million court settlement following a 2004 car accident that left her in a wheelchair.

According to Sarah, Malley was meant to help Shachtay manage her money, as it was planned for her to live off the interest from the settlement. But the money began to dwindle.

'Suspicious' over money matters

"Basically, [Victoria] threw her money at him and listened to his promises," Sarah said, adding that her sister began applying for government funding such as the province's Assured Income for the Severely Handicapped benefits.

"She started getting suspicious when all her money was gone and she was supposed to be living off the interest of the investment and she was broke all of a sudden, and she hadn't spent all that much," Sarah said.

Shachtay began asking Malley more questions about her portfolio.

"So, that's probably what did it," Sarah said.

According to Malley's neighbours, the accused was best friends with Shachtay's stepfather. Neighbours said Malley and his wife were quiet and rarely seen, and described the charges as "absolutely shocking."

RCMP respond to the Nov. 26 blast that killed Shachtay. (Tara Weber/CBC)

RCMP said Sunday that investigators executed a search warrant at a home in Innisfail on Friday and into the weekend.

Explosives were involved but police say they did not pose any risk to the public.

Malley is scheduled to appear in a Red Deer courtroom on Monday. RCMP said on Sunday they are withholding details until Monday morning.

The victim's sister told CBC News she felt relief after learning Malley had been arrested and charged.

"But the anger and the hurt and everything, it's not going away. It's still the exact same as it was before. We've all suffered and it's not going to stop," Sarah Shachtay said, adding that the victim's daughter is now in her custody.