A National Securities Arbitration & Investment Fraud Law Firm
Yes and no. One survey states the proportion of elder financial fraud victims is down, but thieves are choosing more lucrative targets According to estimates, billions of dollars are stolen from elderly people every year. Whether by financial professionals, caregivers, or even family members, financial elder fraud has been rampant…
Raising awareness about the exploitation of seniors and vulnerable adults. It’s an unfortunate fact: senior citizens are common targets for individuals seeking to take advantage of them, especially when it comes to money. As the exploitation of senior citizens and vulnerable adults continues to rise, the New York State Office…
Unfortunately, some brokers and financial advisors devise ways to charge additional commissions, take unnecessary investment risks, or even defraud their clients. And one of the most egregious varieties of fraud or other improper financial activity involves taking advantage of older individuals, some of whom are not privy to information that…
An explanation of Florida’s statute It’s an unfortunate fact, but often people are not treated very well as they age. And due to ailments, disabilities, or reduced cognition, the elderly are especially vulnerable to being taken advantage of. In many circumstances, this has to do with money, and frequently a…
New statistics show that elder financial exploitation is getting more common One of the fastest-growing segments of the U.S. population is baby boomers, with about 10,000 of them turning 65 every day. Unfortunately, the elderly are also some of the most vulnerable members of society, especially where their finances are…
Serious allegations lead to termination at Accelerated Capital Group and permanent bar from FINRA Silver Law Group is investigating allegations against broker Bahram Mirhashemi for unauthorized trades, unsuitable mutual find switching, churning of customer accounts, fraud, elder financial fraud, and several other serious violations. Mirhashemi has worked in the financial…
Hedge fund firm owners agree to $5 million combined settlement On June 1, 2015 the Securities and Exchange Commission charged Greenwich, Connecticut-based AlphaBridge Capital Management and its two owners with fraudulently inflating the prices of securities in funds they managed. These inflated valuations caused the funds to pay higher management…
According to the Sun Sentinel, the Palm Beach County Sheriff’s Office has charged Sultaine Valcius of Boynton Beach with fraud after taking $1.4 million from a 93 year-old man that hired her as a medical aide. The Sun Sentinel reports Sultaine Valcius, 48, is charged with organized scheme to defraud…
Of all the guarantees, bells and whistles associated with variable annuities, perhaps the biggest guarantee is the steep up-front commission the financial advisor can earn for selling the product. According to a recent Reuters’ article, variable annuity sales in the U.S. totaled $142.8 billion last year, and brokers can earn…