Miami Elder Financial Fraud Attorney
According to the Consumer Financial Protection Bureau (CFPB), financial exploitation is the number one form of elder abuse in the United States. With a large portion of the population growing older, the problem is becoming greater and greater and numerous families are affected on a regular basis. Reports indicate that seniors in the U.S. lose billions of dollars on an annual basis due to financial fraudsters. Such losses not only impact the seniors themselves and their ability to cover their expenses but also their family members who were intended to inherit the assets or property.
Like any other form of elder abuse, seniors who suffer losses due to wrongful financial schemes have the legal right to seek compensation for their lost funds and more from those responsible. The Miami elder financial fraud attorneys at Carlson & Associates, P.A. represents the rights of victims of all types of financial fraud.
Who Commits Elder Financial Fraud?
More people than you may imagine may be implicated in financial abuse against senior citizens. While you may first imagine a stranger stealing a checkbook or a senior’s identity, financial fraud against the elderly can happen in many forms and by many different people. Some people who may commonly take advantage of seniors in this manner include the following:
- Family members;
- Financial advisors;
- Investment brokers;
You may be surprised that family members and caretakers are included as possible offenders. However, these are the people who are often closest to seniors and who can exercise the most influence over them and their decision making. In addition, advisors who have been trusted for years may suddenly take advantage of their position of authority on financial matters to steal money from their elderly clients.
Unfamiliar investment advisors or other strangers may also commit financial fraud against elderly victims. Often, these individuals take advantage of the fact that a certain senior may not be a sophisticated investor or may want to increase their retirement savings quickly. Seniors may be hesitant to admit they do not understand certain investment pitches and may simply trust the information provided to them, which is aimed at conning them out of large sums of money.
Seniors who are the victims of financial fraud are often left with only a small part of their life savings and they may be too proud to ask for help. It is important to know the signs of elder financial abuse and ask your loved ones about their financial decisions when appropriate to watch for signs of fraud.
Contact a Miami Elder Financial Fraud Attorney to Discuss Your Case
If you or your loved one has been the victim of investment fraud or any other type of financial elder abuse, your first call should be to a highly skilled Miami elder financial fraud attorney. Proving financial fraud can be complicated and it is critical for your attorney to have experience handling this type of case and communicating with the CFPB and other agencies when needed. At Carlson & Associates, P.A., we are committed to help you recover your lost retirement savings and property and hold fraudsters liable. Please call for a free consultation at 305-372-9700 today.