According to the 2016 Investor Protection Trust Elder Fraud Survey, nearly one in five Americans over the age of 65 has been victimized by financial fraud. This type of fraud costs elder adults billions of dollars each year and can have devastating consequences for victims, both financially and emotionally.
Elder financial exploitation can happen to anyone. According to the National Adult Protective Services Association, the number of individuals affected by financial abuse has grown significantly in the past decade.
Financial exploitation can take different forms. Although the majority of reports involve family members, the perpetrator can also be a complete stranger. Some common types of abuse include:
- Recommending imprudent investments;
- Effecting transactions without authorization;
- Withdrawing funds without authorization;
- Excessively trading to generate commissions;
- Forging signatures on documents;
- Engaging in predatory lending practices;
- Pushing high-pressure annuity sales or investment schemes; and
- Engaging in identity theft.
Our elder financial abuse lawyers are dedicated to advocating for the rights of those who have become a financial fraud victim. We are committed to aggressively pursuing legal action to make sure our clients funds are returned.
If you or a loved one has become a victim of financial abuse, contact our elder abuse lawyers for an evaluation of your case.