Investment scams on the rise among boomers

Sadly, older adults are increasingly being targeted by con artists and fraudulent investors. Please see this heartbreaking story: 

Investment scams on the rise among boomers

By Lucy Lazarony • Bankrate.com
senior couple listening to presentation

Highlights
  • The number of enforcement actions involving senior scams doubled from 2009 to 2010.
  • Boomers and older seniors are targets because they have accumulated wealth.
  • Web tools can be used to check out securities and the backgrounds of hucksters.

Con artists are targeting the life savings of baby boomers and older seniors in a wave of investment scams.

State securities regulators are reporting a surge of investment fraud against investors ages 50 and older, according to the North American Securities Administrators Association, a voluntary association of state securities agencies responsible for grass-roots investor protection.

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