Fresno Police Warning Public of Elder Abuse Scam

Today, perpetrators of elder abuse are increasingly using the internet and technology to defraud seniors, but a recent elder abuse scam in Fresno serves as an important reminder that more “old-fashioned” scams continue to target the elderly.

In this instance, individuals in Fresno have been approaching senior citizens to perform yard work or other home-improvement labor. In teams of two or more, these people will often claim to have worked for the elder in the past, thereby establishing a false sense of trust or security. Once these individuals begin their “work” at the elder’s home, one of them will distract the elder by talking to them or asking for a glass of water while the other sneaks into the home to steal expensive-looking objects.

In recent days, multiple instances of this type of fraud have been reported in Fresno. Witnesses have reported that one suspect is a heavy-set dark-haired male in his 40s and the other is a thin female, 18-20 years old, with dark shoulder-length hair. The Fresno Police Department asks that you contact their Elder Abuse Unit at 559-621-6317 with any information on the suspects.

Elder abuse continues to be a rampant and immoral problem in California and throughout the country. As more and more scammers target the elderly, it is vital to be extra cautious of any individual who attempts to enter or gain access to your home or personal information. If you have an elder relative living alone, be sure to check up on him or her regularly and be aware of any suspicious behavior by people in that elder’s life. If you believe that you or a loved one has been the victim of elder abuse or fraud, contact the Evans Law Firm in California at 415-441-8669 or 888-50EVANS (3-8267) for a free and confidential consultation, or email info@evanslaw.com.

Should You Purchase Long-Term-Care Insurance?

Costs of long-term care are rising, and more seniors are finding themselves in positions where such care appears necessary or desirable. But is Long-Term-Care Insurance a reasonable and viable way of dealing with this problem? A recent article in the Wall Street Journal weighs the pros and cons of purchasing long-term care insurance. The article pits the arguments of George Mason University professor Mark Meiners against those of California Advocates for Nursing Home Reform senior staff attorney Prescott Cole.

While the two consider similar evidence to arrive at diverging opinions, they agree on certain important facts about long-term-care insurance. For one, both Meiners and Cole agree that the decision about whether to purchase long-term care insurance is most pressing to individuals with “mid-wealth” or mid-level savings - people who may identify with the middle-class income bracket. With more than $2000 of savings, these individuals do not qualify for Medicaid, but at the same time are not capable of financing their own long-term care using savings.

The two experts also agree that regardless of whether or not someone purchases long-term-care insurance, he or she should have additional savings set aside for the purpose of long-term care. This is because few, if any, long-term care policies offer 100% coverage of daily care in nursing homes. Even if you are covered under a long-term-care insurance policy, you will most likely have to pay a portion of the nursing home bills. This is especially significant given the “90-day rule” or policy that most insurance packages offer. Given that many long-term-care insurance policies do not kick in until after the insured has spent 90 days in a nursing home facility, individuals wind up bearing the financial responsibility for any stay under 90 days.

Prescott Cole points out that this 90-day rule, paired with the statistic that 67% to 70% of seniors who enter nursing homes leave before 90 days, means that regardless of whether or not a senior has long-term-care insurance, they will probably have to pay out-of-pocket for their stay at a nursing home. Cole applies this instance to a more general argument against long-term-care insurance: the cost (typically $3,500 per year) is extremely high, while the benefits are low. In addition, Cole argues that the risk associated with long-term-care is low; today, only 3.7% of seniors are currently living in nursing homes. As an alternative to long-term insurance, Cole suggests that a person might begin early on to set aside the amount he or she would otherwise pay for long-term insurance into savings specifically for that purpose. That way, the individual would have a sizeable fund on which to draw should the need for long-term care arise.

Meiners counters that this proposed method could be risky if the cost of long-term-care eventually exceeds the amount of savings. Yet, Meiner also acknowledges that even with long-term insurance coverage, an individual may outlive or outspend that coverage, thereby acknowledging that not even a long-term insurance plan is an entirely safe bet.

An added consideration – especially to seniors considering long-term care insurance – is that of insurance scams and fraud. If you suspect that you or a loved one has been the victim of long-term care insurance fraud in California, contact the Evans Law Firm for a free and confidential consultation at 415-441-8669 or 1-888-50EVANS (3-8264). Or contact the Evans Law Firm by email at info@evanslaw.com

California Agent Arrested on Charges of Financial Elder Abuse

Life Health Pro

 Recently, a life insurance salesperson in Los Angeles was arrested on charges of fraud and elder abuse. This incident highlights the unfortunate prevalence of financial crime and abuses targeting seniors today. The best way to avoid long-term scams and fraud is to stay informed and do your research whenever buying or looking into long-term care or insurance. Depending on your financial bracket, it may be prudent to attempt to get Medi-Cal coverage rather than purchase a new insurance policy.

Two resources that are helpful regarding the quality and legitimacy of insurance companies in California are the California Department of Insurance and the California Partnership for Long-Term Care.

Make sure you are aware of the exact benefits you do and do not receive from every potential policy, and compare policies and prices before you select one. Similarly, be aware of the restrictions of each policy. Do not buy duplicate policies.

If you do decide to purchase a policy, fill out your own application to ensure the accuracy of all the information in it, and follow-up regularly to make sure you continue to receive updates regarding the status of your policy. Always pay your premiums by check or debit card, and make the checks payable to the insurance company instead of the individual agent. Keep track of all your documents and payments related to the policy, and avoid pressure to “upgrade” your policy once you have decided upon it.

Finally, if you suspect a scam or fraudulent behavior, contact the Department of Insurance to report it immediately. To report fraud in California, call 1-800-927-HELP.

In Los Angeles, California, life insurance agent Frank Conlon was arrested on charges of financial elder abuse. According to the California Department of Insurance (CDI), Conlon was charged with two felonies: defrauding seniors and embezzlement of funds over $1 million. Among the California Penal Code statutes he allegedly violated were those of elder abuse, grand theft, and fraud.

The CDI report and investigation shows that while working as a life insurance agent, Conlon allegedly diverted significant sums of premium funds from seniors who believed he was investing their money in life insurance and annuities purchases. Between September 2011 and the date of his arrest in spring 2012, Conlon allegedly embezzled over $1 million worth of funds from his clients, many of whom were unassuming senior citizens.

In addition, Conlon allegedly intentionally misled his clients with false documents from purported insurance companies, in order to make his clients believe that their money was sent to the insurance company.

Two victims who were Conlon’s clients, 82 and 86 years old, had entrusted funds to Conlon to purchase life insurance and annuities on their behalf. These victims ended up losing money that had been a substantial portion of their retirement funds. According to the CDI, Conlon diverted these funds and used them for his personal purposes, while the elderly victims were led to believe that their money was being invested in life insurance.

These two elderly citizens represent a small portion of elderly victims of financial abuse. It is all too often that we see insurance companies and agents take advantage of the vulnerabilities of old age. The arrest of Frank Conlon is a step in the right direction for elder abuse prevention in California and the rest of the country. Lawmakers, law officials, and citizens must be vigilant in avenging, but also in preventing elder financial abuse.

If you believe that you or a loved one has been the victim of financial elder abuse in California, contact the Evans Law Firm for a free and confidential consultation with a California lawyer at today at 415-441-8669 or toll-free at 888-50-EVANS. Or contact us by email at info@evanslaw.com .

Lodi Police Said Nurse Imposters Took Credit Card From Man
Sacramento Bee

Two women in Lodi, California were arrested earlier this week on suspicion of burglary, elder abuse, possession of stolen property, forgery, and felonious use of a credit card. Dressed in scrubs, these two women entered into an elderly man’s house and claimed to be hospital nurses. Police report that after being allowed inside, the women took the man’s wallet and left. The man reported the theft to his credit card company, and police apprehended the women at a JC Penney department store.

Deception is just one of the many forms of elder abuse that takes place on a daily basis in California and the rest of the United States. Posing as a qualified nurse or caregiver is a common occurrence within and outside of homes and institutions. Many incidents of caregiver theft and fraud occur when individuals pose as qualified caregivers with the intent to steal from or defraud elderly people. For more information on elder abuse in California, or if suspect you or a loved one have been targeted by caregiver fraud, contact the Evans Law Firm for a free and confidential consultation.

LPL to Pay $1.37 Million in Alleged Elder Abuse Case

Reuters

To settle an alleged elder abuse case, a unit of LPL Investment Holdings has been ordered to pay nearly $1.37 million to two investors in San Diego, California. The investors – Heinrich and Araceli Hardt – alleged that LPL misled them about fractional real estate investments in fractional interests in commercial real estate made through Direct Invest, LLC.

The Hardts say they were initially drawn to the investments because they were led to believe that they would receive income on the investments comparable to rental income they had previously been receiving. Yet, the monthly checks they received from the real estate investments were not tied to rental income, but to a combination of their own funds and money that the investment company had borrowed. The Hardts allege that this information was not adequately disclosed to them. Brian Miller, their lawyer, adds that LPL “used tricks” in structuring the deal with the Hardts.

The Hardts allege that in addition to being misled by LPL with regards to the nature and implications of their investments, they also were made to pay exorbitant fees ranging between 22 to 25 percent of the $3.4 they had initially invested.

A FINRA panel found LPL liable and awarded the Hardts $1.37 million.

Miller further adds that under California law, elder abuse claims may be brought in cases involving alleged securities fraud. For more information on financial or physical elder abuse claims throughout California, contact the Evans Law Firm.

In Northern California, seven citizens have brought a class action suit against eBay and PayPal corporations. In April 2010, a group of eBay online auction sellers filed a complaint against eBay and PayPal with allegations that the two corporations committed abuses of monopoly power, attempted monopolization for online payment, improper collection of shipping fees, and improper tying of two corporations. The result of these alleged actions are unfair and unavoidable fees for both sellers and buyers who use eBay.

The plaintiffs allege that since eBay acquired PayPal in 2002, the online auction site has rendered it effectively impossible for buyers and sellers to purchase items using any format other than PayPal. This effective impossibility – combined with the fact that eBay currently holds 90% of the national online auction market – leads the plaintiffs to claim that eBay and PayPal hold an unfair monopoly over online payment for auctions. These alleged facts also contribute to the allegation that eBay attempted to tie the use of its online services to PayPal’s online payment services.

According to allegations, after eBay acquired PayPal in 2002 the company moved to tightly restrict other acceptable forms of payment by doubling PayPal buyer protection and instituting a policy of paperless payments in 2008. The sellers who brought the case say that increased buyer protection for PayPal effectively removes buyer protection for all other methods of online payment – such as Google checkout, which survived for only three days after offering lower fees than PayPal. The paperless policy rendered cash, checks, and other forms of non-online payment inappropriate for transactions on eBay.

Plaintiffs claim that a result of these effective monopoly policies is the institution of high transaction and shipping fees without any alternative. With no choice but to use PayPal, eBay sellers must continue to pay high costs to sustain their markets, while buyers are made to pay higher fees for services than they might if they were allowed to use other forms of payment. The plaintiff sellers allege that they were required to pay additional fees of up to 3% and 30 cents per transaction. The tying claim relates to the fact that the PayPal is a subsidiary of eBay.

The case is ongoing in the United States District Court Northern District of California, San Francisco division. The class action nature of this suit means that thousands of eBay users in California and across the nation could be affected by the outcome. The Evans Law Firm has recently been retained as local counsel in this action. If you live in California and want to talk to a lawyer about these or other issues with eBay and PayPal, contact The Evans Law Firm by email at info@evanslaw.com or call at 888-503-8267.

A New Year, New Laws
Camarillo Acorn

Among the hundreds of new state laws that will take effect in 2012 are a series that increase the punishment for elder abuse.

This effort to crackdown on elder abuse is an extremely important development in the ongoing struggle to eliminate elder abuse practices in California and the rest of the country. California has long been a pioneer in the area of elder law, and these recent laws are further indications of the state’s commitment to its elderly residents.

A list of the state laws is available at www.leginfo.ca.gov

Hundreds of Elder Abuse Cases in 2011
KULR-TV

Sarah Gravlee in Billings, Montana reports that the number of elder abuse cases is on the rise and will skyrocket over the next two decades. As the baby boomer generation enters into retirement, the number of senior citizens will rise, as will the number of senior citizens who fall prey to elder abuse.

These instances of abuse include physical and financial abuse. Examples of physical abuse include the refusal of family members or caregivers to pay for heat or electricity, leaving elder citizens cold and without power for months on end. In financial abuse cases, younger family members steal money from the elder’s Social Security checks.

According to this article, more than 1 million Americans over the age of 65 have been injured, exploited, or mistreated at some point by someone on whom they depended for care or protection.

While legal recourse is available for victims of elder abuse, a significant hurdle is the reluctance of victims to report the abuse. Denise Armstrong of Big Sky Senior Services says that only one in ten cases of elder abuse are reported; 90% are not. To respond to this crisis of secrecy, Big Sky Senior Services has begun educating the general public on issues of elder abuse. They have trained gatekeepers, bank tellers, meter readers, and mail carriers to detect and report instances of possible elder abuse. This new method of prevention provides allies in the community for potential victims of elder abuse, but does not diminish the importance of reporting abuse and seeking help. Instead, elderly victims should work with the community to report abuse in order to reduce the future number of abuses and victims.

 

Clayton Real Estate Agent Arrested for Financial Elder Abuse & Forgery
San Francisco Chronicle 

In Contra Costa last month, 63-year old real estate agent Walter Roberts was arrested and accused of forging his 92 and 85-year-old parents’ signatures on a Grant Deed. His parents neither knew about nor gave Roberts permission to sign their names on any document or check. The title in question is a home rental property in Concord, CA valued at over $300,000.

Roberts’ arrest was aided largely by the new “Fraud Notification Program” in Contra Costa County: a notification system that alerts homeowners as soon as title has been transferred. As part of the system, the County Recorder sends a letter to each homeowner in English and Spanish, and includes a hotline for the District Attorney’s Real Estate Fraud Unit. The Program is the first of its kind in Northern California.

This instance of elder abuse and forgery is just one more in a series of troubling cases in California and across the country. Yet, the publicity of this case is a testament to the success of the Fraud Notification Program. As more measures are instituted to inform home and property owners – especially the elderly – of the status changes to their property, it becomes easier for these individuals to take action to prevent and recover from theft, fraud, and abuse. For inquiries regarding financial or physical elder abuse in California, contact the Evans Law Firm for a free consultation.

Whistleblower Records Shed Light On BNY Mellon Case

        [Article submitted by Justin Victor of Grant & Eisenhofer]

Whistleblower Grant Wilson has aided a lawsuit against and federal investigation into the Bank of New York Mellon Corp for fraudulent practices. According to Wilson, the bank provided and then charged fictitious foreign-currency costs for pension funds. Following his accusations and information, Virginia, Florida, and New York, and the Department of Justice have sued BNY Mellon for improperly charging state and local pension funds for foreign exchange. According to the New York Attorney General, BNY Mellon made a $2 billion profit from this activity over the past decade.

A bank spokesperson claims that the information is false and taken out of context, yet the scale and multiplicity of the lawsuits and investigations suggest otherwise. Several attorneys working on the case – including Harry Markopolos who is known for warning about Bernard Madoff’s fraudulent operations – cite the centrality of Wilson’s aid and status as a whistleblower; Wilson, a BNY employee, continued to work with the bank while providing information to the legal investigators. With almost 50,000 employees, $1.2 in assets under management and $25.5 trillion under custody and administration, BNY is the largest deposit bank in the world. Even so, it was the work of one individual that brought light to the events and information to spur the ongoing investigations and lawsuits.

The alleged practices of the Bank of New York constitute financial abuse. The Evans Law Firm handles banking fraud and other financial abuse cases in California.