On September 7, 2014, Drew J. Breakspear, Commissioner of Florida’s Office of Financial Regulation, authored an article entitled “Investment Fraud Against Seniors Remains A Constant Threat” in the Tallahassee Democrat.
In the article, which can be accessed here, Breakspear points out that:
- Elder financial exploitation is a growing problem for seniors who are a prime target since they may have accumulated substantial retirement funds.
- Seniors account for 13% of the U.S. population but make up 30% of consumer fraud victims
- According to the National Adult Protective Services Association, 1 in 20 elder adults experiences financial mistreatment
- Elder adults are often tricked into purchasing unsuitable annuities or replacing one annuity for another with no legitimate reason
- Elders should be wary of luncheon and dinner seminars sponsored by promoters
- One warning sign pressure from to promoter to act now before time runs out
If you believe you or one of your loved ones is the victim of financial elder abuse, call to discuss your options to recover damages.
Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
561 391 1900