Experts offer tips on how older residents can protect themselves from financial exploitation

Editor's note: This Shark believes that all the seminars in the world could not have help Alice R. Gore, a disabled ward of the court.  Her financial exploitation was from the people mandated to protect her, The Probate Court of Cook County.  Alice was drugged, had her gold teeth extracted and her fortune stolen from her.  As long as the Kawamotos, Solos, Martins and Larkins and their clones are running the show, change will never occur.  Lucius Verenus, Schoolmaster, ProbateSharks.com

 

Experts offer tips on how older residents can protect themselves from financial exploitation

Posted: Oct 02, 2015 5:51 PM CDT Updated: Oct 02, 2015 10:16 PM CDT

By Erika Ferrando

Email

Connect

eferrando@kplctv.com

 

• • Share on facebook
  • Share on twitter
  • Share on email

 

(Source: Raycom)

It happens too often — elderly residents being targeted by people they trust.

MOREAdditional LinksPoll

Last week, 42-year-old Mark Eldridge was accused of stealing around $4,000 from an elderly man who trusted Eldridge with his finances, even giving him power of attorney. The loss of the money led to the foreclosure of victim's home.
"I believe this guy saw this elderly gentleman; he was vulnerable, took advantage of him; cleaned him out," said LaWanda Gibson, managing attorney for Acadiana Legal Services. She works closely with the Calcasieu Council on Aging and speaks with elderly residents several times a week who fall victim to the same thing.
Calcasieu Parish Sheriff Tony Mancuso said his office hears about these incidents daily. He advised seniors to be careful when choosing someone to handle their financial responsibilities.
"You have to pick somebody that you trust and they have to have a clear understanding of what your goals are and your objectives are about how you want them to spend your money," said Mancuso.
Gibson said there are three major signs elderly residents need to look out for with financial exploitation.
"Check your bank statements. If there's a withdrawal out your account that you're not aware about, follow up on it. If you're getting calls from bill collectors you're not familiar with, if you're getting credit cards that you did not apply for," said Gibson.
"There's always a way to put in some checks and balances. The best way is to have more than one person who have no affiliation with each other to check the other one's work," said Mancuso.
If you believe you may be a victim of financial exploitation, contact law enforcement.
"A predator can be a family member; it can be a stranger. If they find a vulnerable spot, they're going to take advantage of it," said Gibson.
The Calcasieu Parish Sheriff's Office is hosting a safety for seniors seminar. The seminar is free for all seniors ages 55 or older who are interested in their personal and financial safety. It will be held 9 a.m.-11:30 a.m.Wednesday, Oct.  28 at the Calcasieu Parish Sheriff's Office, in the John Scott Doyle Building, at 5400 East Broad Street.
The seminar will feature presentations on personal protection, identity theft, how to avoid being a victim of fraud, and  ho to be prepared. Call
337-491-3737 to RSVP.

Learn about elder financial abuse at seminar

Share10 Tweet8 Reddit0 Email0

0 Comments

Travel Deals

Posted: Thursday, June 11, 2015, 1:08 AM

Perhaps not surprisingly, financial exploitation is the fastest-growing form of elder abuse. June 15 is World Elder Abuse Awareness Day, and the Senior Law Center will host a "financial wellness" fair from 10 a.m. to noon Monday at First Corinthian Baptist Church, 5101 Pine St. Doors will open at 9:30 a.m. At the seminar "Healthy Mind, Healthy Wallet," seniors will be able to ask questions about how to keep their money and assets safe, learn about the latest financial scams and how to make good financial decisions as they age, and find out which resources might be available. The Senior Law Center's Dana Goldberg will be one of the featured speakers.

If you can't attend, call the Philadelphia Corporation for Aging for more information. PCA also operates a website devoted to senior-scam prevention, www.stopseniorscams.org.An estimated 19,000 Philadelphians age 60 and older are financially exploited each year. For every case reported, an estimated 44 go unreported, said Joseph Snyder, director of PCA's Older Adult Protective Services. Signs of elder financial abuse include changes in typical checking and banking patterns, uncharacteristic attempts to wire large sums of money, and sudden insufficient funds. Often, adult children or spouses are the perpetrators.Confidential calls to report elder abuse may be made by anyone, including the older adult in need. In Philadelphia, all forms of elder abuse can be reported to PCA's Older Adult Protective Services 24/7 by calling the PCA help line at 215-765-9040. You can also call the Senior Law Helpline (877- 727-7529 or 215-988-1242) or visit the center's offices at Two Penn Center, 1500 JFK Blvd., Center City. The financial-wellness fair is presented by the Philadelphia Financial Exploitation Prevention Task Force, a group of local agencies that aims to prevent, detect, investigate, recover assets, and prosecute financial elder abuse; train law enforcement, social workers, banks and community agencies about elder financial abuse; and raise awareness of elder financial abuse.

---

earvedlund@phillynews.com 215-854-2808

Read more at http://www.philly.com/philly/business/20150611_Learn_about_elder_financial_abuse_at_seminar.html#fsTAxqzUwP3BgQos.99