No Free Lunch: Florida Seniors beware of free lunch offers!

Jacksonville Elder Law Lawyer, Medicaid Planning AttorneyAlthough there are legitimate “free lunch” seminars done by many respectable Florida Estate Planning Lawyers, the Securities and Exchange Commission (SEC) has found that many seminars may mislead seniors into making unwise investments. Florida Estate Planning Lawyers are prohibited from making advertising claims that are false and statements that are likely to mislead
The SEC was not investigating “free lunch” seminars by attorneys and primarily focused on investment and financial seminars. Many of the seminars made statements like “Immediately add $100,000 to your net worth.”

The report recommends that financial firms supervise sales seminars more closely. It also recommends that ongoing senior investment education efforts include education about “free lunch” sales seminars.

The SEC filed charges against 26 companies and individuals in connection with a $428 million securities fraud scheme that targeted seniors.

Some of the senors were coaxed into investing into timeshares in Cancun and many used funds from their IRA accounts.

For more information and the full report Click Here

If you feel you have been a victim and Need Assistance. Please call the SEC’s Office of Investor Education and Advocacy at (800) SEC-0330.

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