scams: SCAM ALERT! - 10/29/10 06:40 AM
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scams: LA Times article: The elderly need to beware of lenders--and relatives - 12/21/09 08:49 AM
A warning for seniors.  This is scary stuff:
http://www.latimes.com/business/la-fi-lew20-2009dec20,0,2016408.story
Like fire, reverse mortgages are great if used correctly.  But abuse can come from the least expected sources.  Just beware!  It isn't so much about the reverse mortgages, but the scammers that can wreck havoc.
Skip Frenzel
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scams: Another Scam targeting seniors!! - 09/29/09 04:16 AM
Well here we go again, another scam.  This one done by a Michigan broker targeting seniors to refinance their homes and use the proceeds to buy worthless securities.  Another Ponzi Scheme.  This is sad because seniors do not have any protection from overseers when approached by scam artists like this. And the scams and frauds are increasing.  As people's nest eggs are being eroded by the recession, they become more desperate for ways to maintain their life style, especially if they are on a fixed income.  So they are open to these "too good to be true" opportunities.  A Daily Money … (0 comments)

scams: Wall Street Journal article on Reverse Mortgage scams - 08/27/09 01:22 AM
Mortgage Fraud: A Classic Crime's Latest Twists
http://online.wsj.com/article/SB10001424052970204044204574362641338197748.html
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scams: Article on Laws against Senior Scams in Wall Street Journal - 05/19/09 03:50 AM
Laws Take On Financial Scams Against Seniors
http://online.wsj.com/article/SB124269210323932723.html
 
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scams: Another scam! - 03/10/09 12:15 PM
 Scam Artists Using SEC Identities.
In a March 2 press release, the SEC warned financial firms and investors that con-artists are using the names of actual SEC employees to trick victims into giving them personal information. The press release cites incidents of investors being tricked into "revealing private information, giving fraudsters access to their brokerage accounts, and even sending money and other assets to imposters." Imposters have also "contacted firms by telephone, identified themselves as members of the SEC staff, and demanded immediate access to the firm's records, sometimes claiming to be conducting an "emergency" examination." The SEC advises that you … (0 comments)

scams: Another scam warning!!! - 02/06/09 05:36 AM
Help your clients avoid new investment scams.
By Senior Market Advisor | Published February 1, 2009 From the February 2009 Issue of Senior Market Advisor Magazine
Recent stock market volatility and declining yields on CDs and other fixed- income investments are bad news for two reasons: first, they erode client retirement assets and income and second, they unleash more and increasingly devious investment scams.
State securities regulators warn that fraudsters are now preying on investor fears and desire to recapture income.  "The recent turmoil in the credit and real estate markets has led some investors to seek higher returns in non-traditional, … (1 comments)

scams: Scam Alert!!! - 12/24/08 03:27 AM
This newsletter from the San Francisco Elder Abuse Forensic Center, a partnership of the City of San Francisco and the Institute on Aging, alerts us to a scam on lotteries.  There is some good information in the newsletter on the topic.  You may want to pass this along to your senior and adult children clients.
http://campaign.constantcontact.com/render?v=001IUWadrqrRJC8tZ01ATHNRPV-lG1pqnZNPZRmq_smGzTejWLowmnFFWBUPCBTrE5TTpwiqQYq1Jmfxu2XjdPVmVI2Fr6jIKS541epMmoANss%3D
If anyone wants more in depth information on scams and how to prevent them, I have a resource with the state of CA that does presentations in the state.  This applies to not just seniors, but anyone.  Topics include ID theft, credit card scams, lemon … (2 comments)