April 13, 2015
The Insurance Journal reports that Constance Gail Fortune, 61, was arraigned in Los Angeles Superior Court and charged with felony for financial elder abuse as a result of scamming senior citizens, members of First AME Church, out of over $100,000.
Investigators report that Fortune collected premiums for homeowners , auto and life insurance from the victims but never remitted the money to the insurance companies for purchase of the policies, leaving the victims with no coverage.
To conceal the fraud, Fortune prepared fake insurance documents, according to the report.
This type of fraud is known as ‘affinity fraud’. Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. See this for more information about affinity fraud.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are 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.
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