Category: Investment Fraud

ATTORNEY NEWSLETTER  Agents Target Seniors For Sales Of Deferred Annuities  Disadvantages For Seniors Beware Of Recommendations To Switch Contracts Insurance agents target seniors for sales of deferred annuities but these insurance products are especially complex.  Deferred annuities can run from 50 to over 100 pages long with endorsements (called riders) […]

ATTORNEY NEWSLETTER How Deferred Annuities Work Pitfalls For Seniors Questionable Sales Tactics Some insurance agents become quite aggressive when selling insurance products like certain forms of life insurance and deferred annuities. Sales of these policies generate substantial sales commissions and agents may not fully disclose all the facts about these […]

ATTORNEY NEWSLETTER Questionable Annuities Sales Tactics High Commissions Drive Sales Steep Withdrawal Penalties And Lengthy Surrender Periods Agents receive substantial commissions for the selling annuities to seniors. Often annuity sales are closed on incomplete information. The consumer may not understand how these complicated contracts work and for seniors this can […]

ATTORNEY NEWSLETTER Government Charges Defendant Ran Scheme For Nine Years Victims Primarily Elderly Investors False Promise Of Guaranteed Income And Other Misrepresentations Financial elder abuse can strike a particular senior citizen or can be a largescale fraud striking numerous elderly victims such as investment fraud like a Ponzi scheme, where […]

ATTORNEY NEWSLETTER Prohibitions Against Sales Of Unsuitable Insurance Policies Unsuitable Sales To Seniors Is Financial Elder Abuse Red Flags In Sales Pitches Insurance agents who sell unsuitable insurance products, including indexed annuities, to seniors violate the California Insurance Code and Financial Industry Regulatory Authority (FINRA) regulations against the sale of […]

ATTORNEY NEWSLETTER Disadvantages Of Deferred Annuities Unsuitable Investments Reasons To Avoid Deferred Annuities Sales of unsuitable annuities, including indexed annuities, to seniors may constitute financial elder abuse and violate the California Insurance Code and Financial Industry Regulatory Authority (FINRA) regulations against the sale of unsuitable investments.  Cal. Welf. & Inst. […]

ATTORNEY NEWSLETTER Unregistered Securities And Illegal Schemes Unscrupulous Brokers And Advisors Prey On Older Investors Incidents Of Investment Fraud On Elderly Increasing In its recently released Elder Fraud Report, the FBI lists investment fraud against the elderly as one of the primary forms of financial elder abuse against older Americans.  […]

ATTORNEY NEWSLETTER Deceptive Sales Practices Fees And Surrender Charges Understand How Returns Are Calculated Annuity sales to senior citizens have increased in recent years, but so has a sense of confusion among older consumers who are so often targeted by agents selling complex and expensive annuities. The confusion over these […]

ATTORNEY NEWSLETTER Broker Allegedly Defrauded Seniors Out Of $2.4 Million Allegedly Offered “Safe” Investments Which Were Fake Also Allegedly Made Unauthorized Trades The U.S. Securities and Exchange Commission (SEC) polices financial markets to protect the public from fraud.  The SEC’s Enforcement Division includes a Retail Strategy Task Force that in […]

ATTORNEY NEWSLETTER Financial Elder Abuse Alleged Over A Ten-Year Period Victim Sold 23 Annuities Over 10 Years Suspects Allegedly Isolated Victim From Family And Friends Isolation of older persons is a common theme in cases of financial elder abuse.  Another common thread is when a stranger convinces a senior to […]