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August 26, 2024

With elder fraud on the rise, here are some tips to avoid getting scammed

By LIAM GIBSON
Wealth of Geeks

In January, a Californian financial advisor was convicted of a federal crime and barred from working or being, “associated with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization,” after he pled guilty to fleecing more than $24 million from clients over two decades.

The Ponzi investing company, which Paul Horton Smith dubbed “Northstar,” ran from roughly 2000 to 2020 and exploited hundreds of victims, the majority of whom were elderly.


 
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