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Three Calif. Senior Citizens Sentenced in Financial Scam

West News • February 8, 2007
Three senior citizens who preyed on the elderly by selling them financial products that were unregistered and unqualified for sale in California have been sentenced, according to the California ...

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Subject: ethnic markets

Posted On: February 8, 2007, 9:00 pm CST
Posted By: paul avila
Comment:
As a regular commenter on insurance and "ethnic markets" this scam is typical.In this case they were Armenians[probably the older ones lost thier life savings]to these criminals.The sad part and tragically this scam will happen again.It is more pronunced in non-english speaking markets where trust is easily given.Spanish speaking,Philipino,Chinese,Korean and east european markets are ripe for scams.Usually they go unreported.The "securities dealer"should be in jail along with the life insurance agent.It gives honest brokers and the industry a black eye.
Subject Posted By Posted On
ethnic markets paul avila
Feb 8, 2007, 9:00 pm
Financial Scam Big Fine
Feb 8, 2007, 1:33 pm
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