According to the FBI’s latest Financial Crimes Report to the Public, investigations of securities and commodities fraud, also known as investment fraud, have increased by 52 percent since 2008. Additionally, investment fraud is largely underreported, and perpetrators often target retired citizens and seniors. Considering that 77 million baby boomers will be retiring over the next 20 years, as reported by AARP, incidences of investment fraud are likely to increase further.
Wittenberg Law has represented many clients age 65 and older. In California, when you’re 65 or older, you are protected by the financial elder abuse statute that is a powerful tool against investment advisers who break the rules. If you have lost money in an investment, don’t assume the losses were caused by basic investment risk. There is usually more to it than that. Call us for a free consultation (310) 295-2010.