What Senior Investors Need to Watch Out For

You've worked hard to earn your money, and now should be the time that you get to enjoy it. Unfortunately, scam artists want to deprive you of your hard earned money so that they can enjoy it themselves.

As a senior citizen, it is important to be aware of the most common types of scams and to contact an Ohio investment fraud attorney if you believe that you have been the victim of a senior investment scam. Specifically, be alert to:

• Brokers who approach you because of your group affiliation. Scam artists often try to prey on the allegiances and affections of senior citizens. Thus, they may claim to be part of the same group in order to be deemed trustworthy by their potential victim. For example, they may talk about being part of the same religious organization, veterans group, alma mater, or even share a nonprofit interest with you.
• Telemarketing or unsolicited investment calls. If you receive a call about an investment that is too good to be true and the caller refuses to provide all pertinent information in writing, then it could potentially be a scam.
• A broker who refuses to disclose conflicts of interest. If the salesperson fails to provide you with full disclosure about potential conflicts of interest, then the investor could potentially be working in his best interest rather than yours.
• A broker who markets himself as a "senior specialist." Some brokers who call themselves "senior specialists" are trying to earn your trust, but do not necessarily have any specialized training, knowledge, or skill that would qualify them as senior specialists.

Brokers who use these methods to lure senior citizens into investing their "nest eggs" may be operating Ponzi schemes, working promissory note scams, scheming hard sell variable annuities, or selling unregistered securities for profit.

Ohio broker misconduct is a serious offense. The experienced Ohio investment fraud lawyers of Meyer Wilson are committed to protecting senior citizens from the devastating financial losses created by scam artists. We regularly represent senior investors in stockbroker mediation, arbitration, and litigation claims.

We will treat you with dignity and respect at a time when you've earned both and someone has treated you unfairly. We encourage you to contact our firm today at 614-224-6000 for a free consultation.

To find out more about investment misconduct, please read our free report, Five Signs of Investment Fraud... And What to do if It's Happened to You.