Sunday, July 19, 2009

The Crime of the 21st Century? Elder Financial Abuse

Posted by Bruce Bierhans as posted on InjuryBoard.Com

On the heels of our Harwich elder securites fraud case:

Fred Joseph, president of the North American Securites Administrators Association has described elder financial abuse as "the crime of the 21st century". A column in todays Washington Post by financial writer Michelle Singletary expands upon the comments.

The typical victim? A 75 year old woman living alone (what a surprise!). Typical scams?

Forging signatures on legal instruments; promising lifelong care in exchange for money or property; using credit cards without authorization, and con men involved in scams by gaining victims trust (in the Harwich case, our conman desribed his involvement in his church at length).

The article also describes certain red flags to watch for as fraud alerts. See and search for "Senior Investor Resource Center".

By way of update on the Harwich case. Positive negotiations are progressing.

Bruce A. Bierhans

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