Effort to Scam-Proof Seniors

December 6, 2010  |  

(AJC) — Early this year, a Marietta man was sentenced to 20 years in prison for swindling more than $2 million from an elderly woman in phony investment schemes.  “If this particular victim had some interaction with someone trained to recognize red flags, the fraud might have been discovered earlier,” said Bob Terry, assistant commissioner of the Georgia Secretary of State Securities Division, who testified in the case that was decided in February.  The division will take a lead role in a new multistate program to train doctors to identify older Georgians who may be at risk for the latest con artist or rip-off. Funding for the program, being rolled out in 22 states, Puerto Rico and Washington, D.C., will come from the Investor Protection Trust, a nonprofit that educates consumers about investment decisions.

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