A recent article on Yahoo.com had the following title “FCC Eyes 40 Firms Over Elderly Free Lunch Scams.” The article stated that forty investment firms across America’s Sunbelt are under federal examination over so-called “free lunch” investment seminars that target elderly victims. In six states with large retired populations, the FCC is looking hard at seminars where seniors get a free meal and a hard sell for investments that may range from inappropriate to fraudulent. The seminars are often held in local restaurants and hotels, promoted as being hosted by other seniors who may be familiar to local people and seem trustworthy. The pitchmen from the investment companies promote a wide range of products, suitable and otherwise.
We will have more on this latest scam after some more investigation. Please be careful. If it is too good to be true, then it probably is.