Elder & Senior Fraud
Financial abuse against the elderly is one of the fastest growing crimes in the United States. Every year, millions of Americans become unsuspecting victims. The recent recession left many seniors with smaller retirement nest eggs than anticipated, making them vulnerable to:
- Stockbroker misconduct
- Financial abuse
- High-pressure sales tactics from unethical stockbrokers, brokerage firms and financial advisors
If you believe someone took advantage of you or your loved one, obtain experienced legal counsel. I am John C. Barlow, a securities law attorney with more than 33 years of experience handling elder fraud and financial abuse claims nationwide. I am committed to helping you assert your rights and recover any money owed to you through arbitration, mediation or litigation. Contact my law firm today for a free initial consultation in Chicago, Illinois.
Elder Financial Abuse Takes On Many Forms
Elder financial abuse occurs when someone illegally or improperly uses a senior’s money, investments or some form of property. In almost all instances, the perpetrators of elder financial fraud scam their clients through deceit, threats and emotional manipulation.
Some of the men and women behind these financial crimes are strangers, but often the perpetrators of the crime are trusted caretakers, friends and family members. Elder financial abuse can take on many forms, including:
- Wrongfully using an elderly person’s funds
- Forging a senior’s signature on a checking or brokerage account or signing a contract
- Deceiving a senior into handing over various property or assets.
Elder Fraud Can Start With a Free Lunch
Elder fraud can start with a simple free-lunch seminar. According to the Securities and Exchange Commission (SEC), these gatherings often take place at hotels, restaurants, retirement communities and golf courses. Investment firms and individuals conducting the seminars, typically provide a free meal, door prizes, free books, and vacation deals to encourage attendance. The real purpose of the meetings, however, is to get attendees to open new accounts or buy into a certain investment product.
The most common investments discussed at these sales seminars include private placements, variable annuities, real estate investment trusts, equity indexed annuities, mutual funds and reverse mortgages. Unfortunately, legitimate-sounding sales pitches are often nothing more than a scam. Brokers and investment firms are responsible to recommend investments based on a client’s potential for risk. If you or your loved one was pushed into an inappropriate investment opportunity, you may have an elder fraud claim to pursue.
Contact Senior Fraud Lawyer John C. Barlow in Cook County
Anyone can become a victim of elder financial fraud. If you, a loved one, an elderly neighbor, or friend suspect financial abuse, contact my law firm for a free initial consultation. Financial scammers count on the silence of their victims to keep their crimes going. We don’t have to let that happen. During a complementary consultation, I can review the facts of your case to help you understand if you have a legitimate elder financial abuse claim.