Legal Protection Against Investment Scams

As a highly respected elder law attorney with decades of experience, attorney Philip Brown has spoken to investment advisers who report financial scams involving families. Often, the financial adviser's client is an elderly man or woman whose adult child is inappropriately moving funds.

Common Types Of Investment Scams

Not all elder investment fraud is perpetrated by family members. A special report by the Investor Protection Trust names several common types of financial scams typically run by strangers. These include:

  • Unsuitable annuities — An annuity can potentially be a wise way to invest for the future. Unfortunately, some elders are pressured or enticed into buying unsuitable annuities, and the long-term effects on their financial security are extremely detrimental.
  • Phone scams — Some unscrupulous individuals make a practice of calling older adults and asking them to contribute toward fictitious organizations and charities. Others advertise bogus products, services, and subscriptions.
  • Fake international transactions — A classic investment scam involves convincing an elder to front a certain amount of money in return for an eventual, substantial reward from someone in a foreign country.
  • Shady "free lunch" seminars — Federal and state regulators conducted an investigation of these "free" events and discovered that more than 10 percent involved the sale of fake investments and other dishonest practices. More than 50 percent involved misleading claims.

Providing Over 40 Years Of Legal Experience

Learn more about protecting your loved ones from all types of investment scams by scheduling a one-on-one free consultation with a lawyer. Call Phil Brown Law in Beverly Hills, California, at 424-281-0991 or contact us by email.