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Scams & Fraud
AARP South Carolina, June 16, 2010
Do you receive "Free Lunch Seminar" invitations? Nearly 6 million Americans age 55 and older not only get them, but have also attended them according to a new report released by AARP.
These “free lunch” seminars are used to attract older adults who are interested in learning how to invest their money for retirement. Most troubling about some of these seminars is that a year-long examination by regulatory agencies found that nearly one out of four advisers holding the seminars recommended investments that did not appear to be suitable for the client.
AARP is working with the North American Securities Administrators Association (NASAA) on a national campaign designed to ensure that investors are not being pressured into purchasing fraudulent or unsuitable investments. We could use your help!
Become a Free Lunch Monitor
Help make the financial marketplace safer for all investors as a Free Lunch Monitor. Your obligation is easy and simply. AARP will provide you with a checklist that you fill out after you have attended a program. You will just need to return the checklist and any materials to AARP. The checklists will also be shared with state regulators to assist them in their fraud prevention work.
As a Free Lunch Monitor, you can will be the “eyes and ears” in detecting possible fraud and helping to protect all investors! For more information on how you can help and get involved, email firstname.lastname@example.org or call 1-866-389-5655.
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