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PHONE: 415-441-8669 | TOLL FREE: 888-50EVANS

Dec 2, 2021 by |

Orange County Financial Elder Abuse Attorney: Investment Fraud On The Elderly


Unregistered Securities And Illegal Schemes

Unscrupulous Brokers And Advisors Prey On Older Investors

Incidents Of Investment Fraud On Elderly Increasing

In its recently released Elder Fraud Report, the FBI lists investment fraud against the elderly as one of the primary forms of financial elder abuse against older Americans.  According to the FBI report, this kind of financial elder abuse has risen dramatically in recent years.  Unscrupulous investment promoters, brokers, financial advisors, insurance agents and retirement planners (among others) target seniors with a variety of fraudulent schemes.  Most investment fraud schemes are characterized by offers of low or no-risk investments, guaranteed returns, overly consistent returns, complex strategies, or unregistered securities  When perpetrated against seniors, these schemes violate securities laws and constitute financial elder abuse  See Cal. Penal Code § 368 and Cal. Welf. & Inst. Code § 15610.30 (definition of financial elder abuse for civil liability).  Evans Law Firm, Inc. represents seniors in Orange County and throughout California who suffer financial elder abuse at the hands of financial advisors, brokers, retirement planners, insurance agents, caregivers or others.  If you or an older loved one have been the victim of financial elder abuse call us today at (415)441-8669. Our toll-free number is 1-888-50EVANS (888-503-8267).

Protect Against Investment Fraud

Here are several common-sense tips to guard against investment fraud that are well worth remembering:

  • Run a broker check on any “new” advisor who approached. He or she may not be a registered investment advisor at all, and, if they are, may have a record of violations.
  • Do not judge a person or company by their website; flashy websites can be set up quickly.
  • Do not invest in anything you are not sure about.
  • Do not allow yourself to be rushed into making a financial decision.
  • Do your homework on the investment and the company to ensure that they are legitimate.
  • Check out other websites regarding this person/company.
  • Be cautious when responding to special investment offers, especially through unsolicited e-mail.
  • Be cautious when dealing with foreign individuals/companies. Inquire about all the terms and conditions.
  • If it sounds too good to be true, it likely is. Watch out for “get rich quick” promises.

How Families Can Protect Older Loved Ones

Unethical brokers and advisors routinely pressure seniors into financial decisions when the seniors are isolated from anyone who can give them a second opinion on what’s being proposed.  Some advisors even refuse to attend meetings with seniors when other family members are present.  That is a real red flag that something is wrong with what the advisor proposes!   Always accompany them to any meetings they have with insurance agents, financial advisors, or planners.  Discourage them from attending free lunch seminars and other high-pressure sales gatherings.  Do a background check on any new advisors.  Carefully review any written proposals and sales materials provided to the senior.  Get a second opinion from an investment professional with nothing to gain from the proposed transaction.  Commission-driven agents and brokers may fail to disclose material information in a rush to close a deal.  Never let a senior be rushed into signing anything.  If you suspect a senior loved one has been the victim of any kind of investment fraud, call us.

Contact Us

If you or someone you love is the victim of any type of financial elder abuse in Orange County or elsewhere in California, call Ingrid M. Evans at Evans Law Firm, Inc. at (415) 441-8669, or by email at <a href=””></a>. Our toll-free number is 1-888-50EVANS (888-503-8267).  Ingrid pursues all remedies available to injured seniors including getting their money back (restitution), undoing any illegal contracts (rescission), economic damages, damages for mental suffering, extra or punitive damages, and awards of attorneys’ fees and expenses for bringing their case.  Cal. Welf. & Inst. Code § 15657.5.

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