Top Investment Scams that Target the Elderly

Block & Landsman by Block & Landsman

sad old man, investment fraudThe elderly are favorite targets for investment scammers because they are often technologically illiterate, suffer diminished mental faculties, and are believed to be wealthy, making them vulnerable to investment scams. Financial scams targeting the elderly are so prevalent that the National Council on Aging (“NCOA”) dubbed it “the crime of the 21st Century.” Unfortunately, financial crimes are difficult to prosecute and heavily underreported. Moreover, according to the NCOA, these crimes are being committed by family members, specif...Read More

Bait and Switch Tactics Target Investors

Block & Landsman by Block & Landsman

target, consumer fraudBait and switch tactics are nothing new, but sneaky advertisers, con artists, and dishonest financial advisors still use them fairly frequently to lure unsuspecting consumers in. A form of consumer fraud that can wreak havoc on an individual's financial well-being, the old bait and switch scam targets victims from all walks of life- from car buyers to major investors. By being familiar with the tactics fraudsters use, consumers can help protect themselves and their financial futures. What is the "Bait and Switch" Scam? This particular scam is...Read More

How to Spot Financial Advising Fraud Schemes

Block & Landsman by Block & Landsman

a business person, consumer fraudBy understanding some common financial advisor fraud schemes, Chicagoans can help to prevent their losses from growing significantly. Investors entrust their finances to financial advisors with the goal of growing their wealth and funding their retirements. When financial advisors perpetrate the fraud on their clients, the clients may lose thousands of dollars before the advisors are caught. Consumer fraud lawyers look for recognizable signs that financial advising fraud might be occurring so that they can move quickly to protect their clients'...Read More

Fritz Kramer Indicted on Fraud Charges

Block & Landsman by Block & Landsman

A business man world, Securities FraudSelf-styled “diamond and gold exporter” Mr. Fritz Kramer was indicted last week on wire fraud and commodities fraud charges. Wire fraud is implicated when a person uses telecommunication or information technology to commit financial fraud. Commodities fraud entails tricking investors into purchase or sale decisions by false information in violation of securities laws. Commodities fraud can implicate a variety of products encompasses a range of goods sold in commodities markets. The Indictment Per the indictment, Mr. Kramer’s last kn...Read More