In 2009, MetLife published a study on Financial Elder Abuse that contains the following finding:
Strangers are responsible for 51% of elder financial abuse, 34% of the financial exploitation of seniors is done by family, friends and neighbors, 12% is attributable to the business sector and Medicare/Medicaid fraud accounts for 4%.
Women are twice as likely as men to victims of elder financial abuse, with most being between the ages of 80 and 89 and living alone or in a healthcare facility.
Nearly 60% of the persons responsible for taking advantage of senior citizens are men between the ages of 30 and 59.
Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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