What are the most common types of investment fraud that my elderly parents
Sadly, some fraudsters will happily take advantage of older investors.
While your parents, regardless of age, could run into any kind of investment
fraud, older investors are particularly susceptible to:
Your parents may meet the fraudster through their church, a club, or a
hobby. The fraudster then uses this similarity to take advantage of your
"Free Lunch" Seminars
In this scam, an elderly investor is offered a free seminar that may include
an item giveaway, a complimentary lunch, or similar "free" items
for attending and listening to the sales pitch. The investment sounds
great. The problem is that many of these seminars don't give all the
details or may promote one investment, but actually offer a different
Phone calls, e-mails, and text messages come through offering incredible
returns or a great opportunity. Because these types of messages seem so
personal, and because they can be quite persistent (sometimes several
calls a day!), many seniors eventually give in just to get them to stop calling.
To learn more about elder financial abuse, watch the videos below.