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424-835-5733 | 310-525-3516

You may have lost money in your investment portfolio,
due to mismanagement and not even know it.

Elder abuse: byproduct of a targeted demographic for scammers

It's certainly understandable if you are the adult child or other loving relative or friend of a California senior who you suspect is being taken advantage of by a financial scammer.

In fact, you might see strong evidence of that through even cursory familiarity with that elder person's life situation and portfolio. It is sheer understatement to note that seniors are an attractive target for con artists that are in the investment field or falsely claim to be.

We note at the long-established Law Offices of Marc I. Zussman in Los Angeles that such is especially the case for elderly people "who did not manage the family's finances" in former years or who "may not fully understand the nature of their investments."

Sophisticated fraudsters anticipate that; in fact, they rely upon it. And they use various strategies that promote wrongdoing and personally enrich them at the expense of vulnerable individuals.

Foremost, they isolate them, knowing that close scrutiny of their behavior by a securities law professional who solely counsels investors and advocates on their behalf can readily spotlight fraud.

As we note on our website, there can be many indications of that. Here are just a few:

  • Unsuitable investments (e.g., gold exploration rather than guaranteed government bonds)
  • Unsuitable strategy (a portfolio that is more logical for a 20-something risk taker than an elderly individual dependent on a consistent income stream)
  • Churning marked by high-volume transactions that generate broker commissions and bring client charges
  • Inappropriate insurance investments

Those are just a few representative examples from the vast world of investment fraud, and they carry outsized risks for seniors.

Questions or concerns regarding financial elder abuse can be directed to a proven pro-investor securities law attorney.

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