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The U.S. Senate Committee on Aging recently presented its annual report on staggering elder financial abuse. Scammers continue to target this vulnerable population, according to a Jan. 16 Forbes article by Ted Knutson, Frauds Threatening Seniors With Jail Unless They Pay Proliferate As Elder Abuse Nears $3 Billion.
According to the article, one prevalent scam is the “Impending Lawsuit Scam.” A fraudster will call a senior to warn them a warrant is out for their arrest unless they pay a fine. Scammers often use local area codes to trick trusting seniors into believing the sheriffs’ departments are calling. This lawsuit scam topped the annual list of calls to the committee’s elder fraud hotline.
Influencer marketing fraud, tax-credit fraud and restaurateur defrauds.
Cinema heists, fraudulent pet food and more.
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Matt Kelly, Editor and CEO of Radical Compliance, speaks with Tyler Shultz, Theranos whistleblower, about how he discovered fraud at Theranos and his tense meeting with Theranos lawyers at his grandfather’s (George Shultz, Former Director of the U.S. Office of Management and Budget) home. View the video.