AARP Georgia Teams With Secretary of State to Combat Investment Scams
By: Source: AARP.org Date Posted: 2006-12-29 12:33:00-05:00
Americans lose an estimated $40 billion each year to fraudulent investments. Do you know someone who has been duped by investment fraud?
AARP Georgia is announcing the availability of fraud fighter speakers to give investment fraud presentations upon request at no cost to interested groups.
Working under a $98,000 grant from the Investment Protection Trust and through the Georgia Office of Secretary of State, AARP Georgia recently trained about 50 volunteers to serve on the front lines in the battle against investment fraud. The fraud fighter speakers will give 30 minute presentations at what are being called "No Free Lunch" seminars to seniors and other residents in their communities. The theme is in contrast to the commonly referenced "free lunch" seminars that are being pitched to potential investors across the country.
The presentation includes information on real investments that may not be suitable for seniors, including variable annuities, gift annuities, viaticals and promissory notes. It also covers phony investments or outright scams such as the notorious pyramid scheme, prime bank schemes and affinity fraud. Attendees will learn how to spot some common investment scams, as well as some typical signs of fraud; steps you can take to protect yourself including referrals to agencies of possible fraud and where to go to get information on investments.
The volunteers are not trained to give advice on investments during their presentations but will provide referrals to the proper resources, such as the Secretary of State's (SOS) Office. "Smart Investing" brochures as well as brochures from the (SOS) on wise investing will be given to their audience.
In addition, AARP Georgia has speakers trained and ready to give presentations on:
- Identity Theft
- The Most Common Frauds and Scams
- How to Maintain Healthy Credit
- The Truth about Living Trusts
The speakers are available to give presentations in the community with the provision that requestors for a speaker provide the site and interested attendees. The preferred number of attendees is 25-30 but our speakers will accommodate larger numbers.
For those interested in having an investment fraud fighter "No Free Lunch" presentation in their community, please call the AARP Georgia's toll free number at 1-866-295-7281.
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