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Any Charges Reported on this blog are Merely Accusations and the Defendants are Presumed Innocent Unless and Until Proven Guilty, through the courts.

August 17, 2012

Elderly Suffer as Financial Abuse Grows

 Elderly suffer as financial abuse grows
By Christine Dugas, USA TODAY
Aug 15, 2012

Financial abuse of the elderly is getting worse, and most seniors don't know how to seek reliable financial help.
"There is no silver bullet that will end the financial abuse of America's seniors," says Don Blandin, president and CEO of the non-profit Investor Protection Trust (IPT), which released a survey Wednesday about elder exploitation. IPT conducted the survey after the Consumer Financial Protection Bureau requested more information about the problem.
The experts IPT surveyed said the most common type of abuse is when family members steal or divert funds or property. The next biggest problems are caregiver theft and financial scams perpetrated by strangers.
"Some of those financial scams by strangers can be ones that actually deplete the entire life savings of a senior at the worst possible time in their life," Blandin says.

 Abridged
SOURCE:         USA TODAY

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1 comment:

NASGA said...

The MetLife Study does not include a discussion of the untold millions - perhaps trillions - of dollars wrongfully awarded (in administrative and legal "fees") to fiduciaries in unlawful and abusive guardianship and conservatorships.

When the fiduciaries have bled the estates dry, the now penniless wards are forced onto Medicaid --at taxpayer expense -- and the fiduciaries withdraw from the cases and move on to more unjust enrichment.

Boomers turn 65 this year. As they become vulnerable, the problem will grow exponentially. It already affects the Medicaid crisis nationwide.

NASGA continues to bring this problem to public attention and to our government, including the Senate Special Committee on Aging.

JOIN the national movement for reform. Join NASGA: http://www.StopGuardianAbuse.org/

Yours,
Elaine Renoire

DISCLAIMER

Any Charges Reported on this blog are Merely Accusations and the Defendants are Presumed Innocent Unless and Until Proven Guilty.

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