Elder fraud and “sweetheart scams”

Happy Monday, compliance peeps!  We’ve made it to another week, and the first day of summer is here!  I hope that you have some plans to enjoy it in the coming weeks and months.  I’ve got a beach trip to Lake Michigan in my sights!

Today, though, I’m talking about scams.  Specifically, scams that target seniors.  I will discuss  a recent headline that created some waves early this month, as well as some additional information to be aware of for Elder Abuse Awareness month.

On June 1, 2021, the US Attorney’s Office for the Southern District of West Virginia sent out a press release regarding nine individuals who were charged for their roles in a fraud scam involving 200 victims.  Many of the victims were elderly, and the alleged illegal schemes defrauded those victims of at least $2.5 million.  The nine defendants are charged with various fraud-related crimes occurring over a range of years from 2016 through 2020, including mail fraud, wire fraud, money laundering, and receipt of stolen property.  All nine defendants have been apprehended across various states: West Virginia, the District of Columbia, Ohio, Georgia, Maryland, and Nebraska.


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