Tuesday, May 18, 2010
Fraud Alert
Scam artists increasingly are targeting people trying to repair their nest eggs. Here's what to watch for.
Many investors in their 50s and 60s are desperate to bulk up their nest eggs. But they remain skittish about the stock market -- and are frustrated with low interest rates.
It's a combination that makes them especially susceptible to fraud. "Anybody who's even thinking about retiring is panicking because they're going to outlive their savings," says Joseph Borg, Alabama's top securities regulator. "Along comes a scam artist with a guaranteed, super-safe deal. It's a perfect storm..."
Yahoo! Finance: Fraud Alert
Many investors in their 50s and 60s are desperate to bulk up their nest eggs. But they remain skittish about the stock market -- and are frustrated with low interest rates.
It's a combination that makes them especially susceptible to fraud. "Anybody who's even thinking about retiring is panicking because they're going to outlive their savings," says Joseph Borg, Alabama's top securities regulator. "Along comes a scam artist with a guaranteed, super-safe deal. It's a perfect storm..."
Yahoo! Finance: Fraud Alert
Permalink posted by markw @ 7:27 AM 
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