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December 3, 2008

Financial Elder Abuse: Helping Seniors Deflect Scams (FL. USA)

Helping seniors deflect scams
By KEVIN L. MCQUAID
December 2, 2008

SARASOTA - Especially during stock market tailspins, when the desire to recoup losses is strong, seniors need to investigate potential investments and the people peddling them to avoid becoming victims of fraud.

That was the central message from the inaugural meeting of ScamBee, a new volunteer coalition aimed at educating seniors and stamping out scams that hurt the elderly in Southwest Florida.

To combat financial crimes and fraud, Calmbach and William Reilly, with the state's Office of Financial Regulation, urged the roughly 100 seniors and others in attendance Monday to closely examine investments -- before committing their money.
"You've got to check things out with somebody," Calmbach said. "It can be ScamBee, Bill's Office of Financial Regulation, a CPA, it doesn't matter. But have someone do it."

ScamBee, formed in June in the wake of a series of Herald-Tribune stories and editorials detailing investment crimes against seniors, hopes to hold monthly scam seminars at the Senior Friendship Center in Sarasota.

In addition, the Attorney General's Office has opened a Seniors vs. Crime office there to help victims.

Abridged
SOURCE: Sarasota Herald-Tribune
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DISCLAIMER

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