Is it Common for Older People to Be Victims of Financial Fraud?

 

A: A 2010 study by the Investor Protection Trust found that 20% of older Americans - or one out of every five senior citizens - has been sold an inappropriate investment, paid exorbitant fees, or been the victim of financial fraud. Research by Metlife put the collective financial losses of older Americans due to these inappropriate activities at just under $3 billion in 2010.

Data from the North American Securities Administrators Association (NASAA) further supports these figures. According to NASSAA, about 44% of consumer complaints come from senior citizens and about 33% of enforcement actions involve senior citizen investment fraud.

If you or your elderly parent has been the victim of financial fraud, then you may have the right to seek compensation. An experienced Columbus stockbroker fraud lawyer with Meyer Wilson can advise you about your legal rights.

Our law firm is currently the one in the state of Ohio that is exclusively dedicated to representing victims of financial fraud, securities scams, and investment misconduct. We regularly represent senior investors in stockbroker mediation, arbitration, and litigation claims.

Our Ohio investment fraud lawyers have successfully represented more than 800 clients nationwide, and we encourage you to contact us today at 614-224-6000 for a free consultation. For more information about protecting your legal rights, please read our FREE book: Five Signs of Investment Fraud... And What to Do if it's Happened to You.