Fincial Scams

 

As many as 5 million elderly people are victims of financial exploitation every year. Financial scams take many different forms including false sweepstakes winnings, charity fraud, or theft by nursing home employees.

 

Another example of a financial scam occurs when a financial advisor tricks an elderly person into buying an inappropriate annuity that generates substantial commissions for the individual advisor.

 

This crime can have a significant impact on the elderly because they are incapable of recovering financial losses; many are too old or frail to re-enter the workforce. The emotional impact of elder fraud can be traumatic as well.

 

Fortunately, there are laws to protect senior citizens against abuse, neglect and fraud.

 

If you or a loved one has been a victim of a financial scam, contact an attorney by email or call (800) 366-8653 for a free consultation about your case.