The Investor Protection Trust (IPT) recently released an eye-opening report to mark World Elder Abuse Awareness Day regarding elder investment abuse in the United States. According to the report, over 7.3 million citizens over the age of 65 have already been taken in by elder financial fraud, which equates to about one in every five elderly Americans. Here are some of the key findings from the IPT report:
- More than one-third of people surveyed who were over the age of 65 said that there were worried about becoming less able to manage their finances, and four out of ten people surveyed who had parents over the age of 65 expressed concern that their parents are less able to handle their finances over time.
- It’s estimated that at least half of Americans over the age of 65 already exhibit one or more signs of being victims of elder financial abuse, and one in three older Americans say they are vulnerable to financial fraud.
- Very few healthcare providers are discussing financial responsibility and abuse with their elderly clients and their loved ones, even after concern is expressed about elderly patients’ cognitive abilities.
If you or a loved one has become a victim of senior investment fraud, speak with one of our highly skilled investment fraud attorneys today or simply fill out our quick online contact form for more information. Meyer Wilson has represented hundreds of investors nationwide in stockbroker mediation, arbitration, and litigation, and we are devoted to helping harmed investors recover their losses.
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