Financial Elder Abuse
Over this past weekend the U.S. Department of Justice (DOJ) announced the largest coordinated sweep of elder abuse fraudsters in history. More than 250 defendants around the world were identified as victimizing millions of American seniors. The cases filed against the wrongdoers include criminal, civil and forfeiture actions in more than 50 federal district courts. The actions charged a variety of fraud schemes, ranging from mass mailing, telemarketing and investment frauds to individual incidences of identity theft and theft by guardians. A number of cases involved transnational criminal organizations that defrauded hundreds of thousands of elderly victims, while others involved a single relative or fiduciary who took advantage of an individual victim.
The San Francisco and California financial elder abuse attorneys at Evans Law Firm, Inc. represent victims in civil actions against all manner of abusers: insurance agents, brokers, reverse mortgage lenders, financial advisors, trustees and those acting under Powers of Attorney, embezzling family members and caregivers and scam artists such as those caught by the DOJ’s sweep. If you or someone you know is the victim of financial elder abuse in San Francisco or elsewhere in California, call Evans Law Firm today at 415-441-8669.
Examples of Financial Exploitation of Seniors
Some examples of the elder financial exploitation being prosecuted by the DOJ include:
- “Lottery phone scams,” in which callers convince seniors that a large fee or taxes must be paid before one can receive lottery winnings;
- “Grandparent scams,” which convince seniors that their grandchildren have been arrested and need bail money;
- “Romance scams,” which lull victims to believe that their online paramour needs funds for a U.S. visit or some other purpose;
- “IRS imposter schemes,” which defraud victims by posing as IRS agents and claiming that victims owe back taxes;
- “Guardianship schemes,” which siphon seniors’ financial resources into the bank accounts of deceitful relatives or guardians.
An elderly American can lose his or her life savings to a duplicitous relative, guardian, or stranger who gains the victim’s trust. The cases can have a devastating effect on victims and their families, both financially and psychologically. We at Evans Law Firm represent seniors in San Francisco and throughout California who have been the victims of these types of financial exploitation and more. We work on financial elder abuse cases every day. Call us at (415)441-8669 when you first suspect a problem.
Remedies and Prevention
If you’re a senior or the loved one of a senior be cautious in all financial matters. Know that anyone could be a potential financial predator. Report financial elder abuse to the authorities when you first suspect but also seek counsel to pursue all available remedies under California law including the mandatory award to you of attorneys’ fees for bringing your case.
Seek the advice of people you trust. Do not relinquish authority by a Power of Attorney to anyone unless it’s someone you completely trust. Make sure checks are kept in a safe place. If in-home care is required, do a thorough background check on anyone before hiring them. Dependent seniors are often victims of financial elder abuse by caregivers. Keep an eye out for strangers who suddenly become over-involved in a senior’s daily life. Don’t respond to door-to-door or phone or internet solicitations for money; these are the most recurring types of financial elder abuse. Lastly, if you’re a senior, don’t isolate; let loved ones and longtime friends and professionals help you just as you helped them in your younger years. If you’re the loved one of a senior stay involved and maintain daily contact.
If you or a loved one been the victim of financial elder abuse in San Francisco or elsewhere in California, contact financial elder abuse attorney Ingrid Evans and the other Evans Law Firm financial elder abuse attorneys at (415) 441-8669, or by email at <a href=”mailto:firstname.lastname@example.org”>email@example.com</a>. Our attorneys have experience with all types of financial elder abuse, investment and securities fraud and annuity fraud. We can guide your case through a jury trial, through a FINRA arbitration if required when the abuser is a broker or financial advisor, or toward an equitable settlement. We handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.
 Evans Law Firm, Inc. is not involved in any of these actions.