Some advice from the Secretary of State: Don’t give somebody your money just because they buy you a meal.
Missourians 55-65 have been getting letters from Secretary of State Robin Carnahan outlining the top ten investor threats. At the top of the list are dinner meetings to promote shady investment schemes. Carnahan says people tend to let their guard down in the relaxed atmosphere of a dinner. Carnahan is not saying they’re always bad but she is saying dinner guests should not relax too much.
Another scam: the Senior specialist. .She says a lot of ads are appearing talking about somebody who has some special designation to be able to help senior citizens. But Carnahan says "there’s no such thing."
She suggests people be skeptical about low-risk real estate investment offers, oil and gas investment presentations, exclusive investments with overseas banks–which often don’t exist, viatical insurance settlements, and a few other things. .
These things are not automatically bad, she says, but a call to the state securities commissioner in her office or a consultation with a trusted banker, bookkeeper, or insurance agent. can head off a lot of pain.
Here’s a link to her top ten list: