When you reach out to a financial advisor, you expect to be taken care of. But one Nashville senior was scammed out of thousands by someone she thought she could trust.
How This Senior Scam Worked
This woman’s senior scam story begins with a man handing out AARP information. According to WKRN.com, this man told a Nashville woman, Paula Gilmore, that he could help her with her finances and manage her money.
She believed him—he seemed credible. However, over the next 10 years, she handed him close to $230,000. But instead of investing it, he was pocketing it for himself.
According to Gilmore’s daughter, the man would open up her mail and even write checks from her own account to pass off as dividends. In reality, he was just cashing them and taking the money for himself.
Eventually, the FBI caught up to the scam artist. However, the damage was done.
Staying Safe from Fraud and Scams
Consult others before making any decisions about your finances, especially if someone you don’t know approaches you.
At The Seniors Center, we understand how important your financial security is. We’re working to help seniors stay aware of the latest scams so they can protect themselves. Follow us on Twitter and Facebook so you never miss a post!