NH Securities Bureau warns of threats to seniors
CONCORD, N.H. (AP) — New Hampshire’s Bureau of Securities Regulation says that seniors continue to be targets of investment fraud and financial exploitation.
Bureau Director Barry Glennon says a survey of over 750 experts in senior issues found a majority of them have dealt with elderly victims of investment fraud. The survey showed that the most common abuses are theft and diversion of funds by family members and caregivers, as well as scams perpetrated by strangers.
The survey was conducted by Investor Protector Trust.
Glennon said the most frequent threats include scams involving gold and precious metals; oil and gas drilling programs; promissory notes; real estate; and private offerings.
The bureau encourages people to do their due diligence and check to review the backgrounds of individuals and companies promoting financial products.