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In this slow moving economy, countless retirees have watched their nest
eggs shrink. Many have become fearful that they won’t have enough
money to live out their retirement years. Some are worried that they won’t
have anything to pass on to their heirs. It is these very concerns that
put older investors at risk of investment fraud. Yet, criminal scams aren’t
the only threat to investors.
There are several other issues that retirees face. According to an article by
The Associated Press, “Protecting Elderly Parents From Financial Catastrophe,”
in addition to
Ponzi schemes and other types of investment fraud, inappropriate investments are also
a problem for senior investors.
These inappropriate investments can create many complications for investors:
As an investor, there are some tactics you can take to reduce your risk
of financial loss:
With all that being said, it is important not to minimize the serious risk
of investment fraud. According to The Associated Press, there have been
at least a dozen cases in recent weeks in which advisors supposedly stole
money from investors. These alleged cases of fraud involved $416 million
and occurred in as many as 22 states.
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Investment Misconduct Blog
FINRA has barred former Wells Fargo broker John Schmidt after he failed to respond to its investigation regarding accusations of misappropriation, misrepresentation, and theft ...
Former Cambridge Investment Research Advisors, Inc. broker Ralph Savoie was barred in 2015 after allegedly defrauding investors in a Ponzi scheme. On March 26, 2018, he ...
Broker-dealers who inflate investment fund performance to retain business and gain new clients deny investors the opportunity to make informed investment decisions. Inflating ...