Fake Investors Finally Caught

Local Arrests Ease the Mind of the In-home Caregiver near Carlsbad

Special investigators recently caught four criminals who had stolen millions of dollars from at least 28 different seniors. The scam was centered in San Diego, and the in-home caregiver near Carlsbad is disturbed to discover the kind of financial abuse that was happening to our senior neighbors. The thieves, who posed as investors looking to help seniors better prepare for retirement, face over 100 criminal counts.

Promising Financial Security

The fake investors offered their victims an arrangement that any senior would be attracted to: the chance to invest their money and potentially make a significant profit, all with the guarantee that even if the investments failed, they would get back the money they put in. Investigators believe that more victims than the 28 identified so far handed over their money, only to find out too late that the entire operation was a scam.

Control Retirement Funds Closely

Even after the criminals are tried and sentenced, many victims may never get back the money they lost to this scam. Rather than spending years fighting to regain stolen funds, adult children of seniors should take an active role in their finances. Assuming that an elderly parent will spot and avoid investment scams could be an extremely costly mistake.

Finance Tips from the In-home Caregiver in San Diego County

When scammers contact a senior directly by phone or in person, the presence of a family member or in-home caregiver in San Diego County is usually enough to scare them off. You can also implement layers of protection, such as encouraging your loved one to refer all strangers to you and keeping a close eye on his bank account activity. If cognitive decline is an issue, transfer legal authority over finances to responsible family members before it becomes a very complicated issue.

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Tim Colling

Tim Colling is the founder and President of A Servant's Heart In-Home Care, which provided in-home caregiving services in San Diego County, and also of A Servant's Heart Geriatric Care Management, which provided
professional geriatric care management services and long term care placement services in San Diego County. Tim has more than 30 years of experience in management in a variety of industries. He held a Certified Care Manager credential from the National Academy of Certified Care Managers. Tim is also a Certified Public Accountant (retired), and received his Bachelor’s Degree in Accounting from California State University at San Diego. In addition to writing blog posts here for the Servant’s Heart blog, Tim also is a regular contributor to HealthLine.com and to FamilyAffaires.com as well as blogs of other eldercare services provider companies. Finally, Tim is also the president of A Servant's Heart Web Design and Marketing, which provides home care marketing as well as website design and online marketing for those who serve the elderly and their families.

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