According to Jennifer Levitz’s May 19, 2009 article in the Wall Street Journal, “Laws Take on Financial Scams Against Seniors,” regulators believe that no investors are more vulnerable to scams than older people, who depend on their savings for a secure retirement. Experts say these scams are appearing with increased frequency during the recession. This is of particular concern as more people are looking for “low-risk” investments and some firms are pushing products that are sold as a safe way to invest in the stock market but which are actually extremely complex and with significant downsides. Other products, such as annuities, may restrict access to the savings that the seniors need to access in order to live. The state regulators and attorney generals of different states are reviewing these practices and taking action.
If you are concerned that you have been the victim of securities fraud or you know a senior who may have been a victim of securities fraud, we may be able to help. To speak to a securities attorney, please call The White Law Group at 312/238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.