Elder fraud

Clients thought they were investing in real estate developments that would be flipped for profit.

Overall, the advisor defrauded at least nine clients out of $1 million, which he used to pay for tuition and mortgage payments, federal prosecutors say.

The Ponzi-like scheme used investor funds to pay other investors’ debts and cover personal expenses.

The dirty little secret about elder exploitation is that almost 60% of cases involve a perpetrator who is a family member, according to a 2014 study.

The defrauded clients included the advisor’s own in-laws, who had suffered from Alzheimer’s and a debilitating stroke.

One couple in their eighties invested more than $700,000 with the alleged schemers, representing almost the entirety of their cashed-out pension, regulators say.

Seniors should consider designating joint agents, reviewing the security features on their financial accounts, and having their names removed from credit card solicitations.

Pinnacle Investments tapped Ami Forte despite her ongoing legal struggles with her former firm and Home Shopping Network founder Roy Speer’s estate.

Spanning 50 federal districts, the case involves criminal and civil charges for as many as 200 defendants.

The advisor fleeced the duo of nearly $1 million by misappropriating their stock holdings and initiating unauthorized wire transfers from their bank account, prosecutors allege.

New FINRA rules will help the wealth management industry do its part to identify and prevent elder abuse.

The advisor tricked investors into thinking they would get their money back, with a return, in four to eight years, but they haven't seen a penny returned, the Massachusetts regulator claimed.

The regulator outlined the top priorities for 2018 examinations.

It’s a common practice but a dangerous one.

A 75-year-old widowed retiree allegedly lost nearly half of her $3 million investment in the scheme.

Bernard Parker spent his client's money on his home, car and father-in-law’s bills, according to federal prosecutors.

Offering a prepaid, monitored debit card gives True Link an edge in elderly retirement advice space.

The advisor targeted clients he obtained at Social Security seminars, according to prosecutors.

The broker persuaded clients to write checks payable to him, the regulator claims.

The broker claims in filings that he was harassed by the bank, culminating in his firing in February of last year.