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Call for older people & carers to beware bogus investments
The Insolvency Service has issued a warning that older people and their carers, and vulnerable adults, should beware bogus finance schemes as scams have netted £28m over the last three years.
The warning to watch out for bogus retail and investment schemes aimed at older people comes on on World Elder Abuse Awareness Day [June 15]. The warning is being supported by Age UK, the Alzheimer's Society and Action on Elder Abuse.
The Insolvency Service figures reveal that 78 rogue companies in England and Wales raked in more than £28 and have been shut down since 2009. Close to 2,000 investors fell victim to scams between April 2009 and March 2012 - the oldest person targeted was 92 years old.
Scams included:
- selling plots of land for 'building' that didn't exist or were on greenbelt protected land
- wine stocks that didn't yield any profits
- retail products sold at inflated prices including burglar alarms, mobility scooters, 'heritage' coins and stair-lifts
For advice on elder abuse see Age UK's website.
For advice on caring for a person with dementia see the Alzheimer's Society website.
For more on the work of Action on Elder Abuse see its website for campaigns information.
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