Tag Archives: Florida Exploitation of Elderly
Investor Alert: Ponzi Schemes Targeting Seniors
The SEC’s Office of Investor Education and Advocacy (OIEA) and Retail Strategy Task Force are warning investors about Ponzi schemes that prey on senior investors. Many seniors have spent years saving and investing, which is a great way to achieve financial security – but also may make them targets for investment fraud, including Ponzi… Read More »
SEC Charges Operators of $1.2 Billion Ponzi Scheme Targeting Main Street Investors
12/21/2017 12:10 PM EST The Securities and Exchange Commission today announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme. SEC investigators filed this action to prevent further dissipation of investor assets after obtaining court orders in September andNovember in subpoena enforcement actions that forced… Read More »
Former Invest Financial Advisor Roger Kroeger arrested and charged with embezzlement and money laundering
According to news reports, Former Invest Financial Advisor Roger Kroeger arrested and charged with embezzlement and money laundering from 92 year old woman’s investment account. If you or a family member or friend have concerns about how your investment or stock brokerage account has been handled or if you have any questions concerning the… Read More »
Updated Investor Alert for Seniors: Five Red Flags of Investment Fraud
Per Securities and Exchange Commission: Older Americans are often targets of investment fraud. The SEC’s Office of Investor Education and Advocacy is issuing this Updated Investor Alert to help seniors identify signs that what is offered as an investment may actually be a fraud. Below are five “red flags” seniors should look out for… Read More »
World Elder Abuse Awareness Day: Play a part in prevention
Good afternoon, It’s World Elder Abuse Awareness Day – it’s not a celebratory day, but rather a day to talk about preventing, identifying, and responding to elder abuse and financial exploitation. Whether you are an older adult, care for one, or simply know someone who is a senior, you can do something to prevent… Read More »
Federal Judge Sentences Jacksonville Ponzi Scheme Operator Who Defrauded Retired Teachers
On June 12, a federal judge in Jacksonville sentenced the former operator of a Ponzi scheme to 10 years in prison. Anderson Scott Hall previously pleaded guilty to four felony charges of wire fraud, mail fraud and money laundering in late 2013. The United States Attorney’s Office in Jacksonville recommended the 10-year sentence, which… Read More »
SEC Charges Texas Pair for Misleading Elderly & Retired Investors in Life Settlements
On May 11, the U.S. Securities and Exchange Commission filed a civil lawsuit in Texas against two insurance salesman accused of illegally selling “life settlements” to more than two dozen investors, many of them elderly and retired. Life settlements are fractional interests investors purchase in the death benefits payable under a life insurance policy…. Read More »
SEC, U.S. Attorney Prosecute Miami Ponzi Scheme That Targeted Retirees
A Miami resident is facing federal criminal charges for allegedly running a Ponzi scheme targeting retired public sector workers. Phil Donnahue Williamson has already settled civil charges brought by the U.S. Securities and Exchange Commission, agreeing to repay nearly $750,000 to investors. The U.S. Attorney’s Office in Miami separately charged Williamson with investment advisor… Read More »
Identifying and Protecting Against Elder Financial Abuse
Financial abuse of the elderly is a serious problem in Florida and throughout the country. Many elderly persons exhibit signs of diminished capacity to manage their own finances. Unscrupulous relatives and would-be financial advisers often take advantage of such persons. Planning to Avoid Elder Abuse through Estate Planning In a recent Investor Bulletin, the… Read More »
SEC Charges Four With Penny Stock Fraud Aimed at the Elderly
On April 7, the U.S. Securities and Exchange Commission sued Boca Raton-based eCareer Holdings, Inc., and its chief executive officer, Joseph J. Azzata, with securities fraud in connection with the sale of the company’s penny stock. According to a complaint filed in Miami federal court, Azzata engaged several individuals previously barred from acting as… Read More »
