The Justice Department and law enforcement partners recently announced the largest coordinated sweep of elder fraud cases in history. The cases involved more than 250 defendants from around the globe who victimized more than a million Americans, most of whom were elderly.
According to the Justice Department, there were a variety of fraud schemes ranging from mass mailing, telemarketing and investment frauds to individual incidences of identity theft and theft by guardians. Many cases also involved transnational criminal organizations that defrauded hundreds of thousands of elderly victims, while others involved a single relative or fiduciary who took advantage of an individual victim, the Justice Department noted.
So how might you protect yourself and your loved ones from falling victim to elder fraud? Are there opportunities for individuals to safeguard their finances from financial predators?
Joining us for our discussion on Fraud Alert! is William Francavilla who is calling in from his Richmond Virginia office. WILLIAM M. FRANCAVILLA is a Certified Financial Planner™ with more than 30 years of experience in the financial services industry. He has worked as an investment advisor and professional trainer to several to Fortune 500 companies and retired from Legg Mason as senior vice president and director of corporate wealth management.
Francavilla presently is a consultant to some of the most successful financial advisors and financial firms in the country. He speaks and writes to help clients and advisors better understand how best to succeed. His book is highly acclaimed by leaders in the financial industry. He is the author of “The Madoffs Among Us ”.
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