It was discovered years ago that elderly people are prime targets for illegal investments and financial schemes. Unscrupulous people will call endlessly looking for a bite from a mark. Once a mark is identified, they are quickly and surely relieved of their cash.

The government is even concerned about the vulnerability of seniors to these illegal investments and scams. The Securities and Exchange Commission is working toward educating and protecting elderly citizens.

Ponzi schemes sometimes use the elderly as their primary target. These schemes are very sad. They are deceptive from their very start. They are solely a way for a criminal to take money from people. There are never any good intentions behind a Ponzi illegal investments scheme.

The SEC has a Division of Enforcement. They have been bringing actions against individuals pushing illegal investments onto elderly people. There was one particularly egregious case in Southern California where elderly people were lured with free food and ended up involved in a Ponzi scheme.

An Investor Education Program set up by the SEC is starting to attract more elderly students. The elderly and their caregivers need to be aware of illegal investments and what they are. They also need the knowledge of how to avoid them.


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