SmartMoney Blogs

Encore
A blog about living in and planning for retirement

Fraud - All posts tagged Fraud

  • Oct 3, 2012
    8:27 AM ET

    Fraudster Stole From Retirees; Now He Tells All

    Many of us—admit it—feel just a tad smug when we hear about investment scams. “I would never fall for that,” we think—to which a story in the most recent issue of AARP The Magazine offers a big “Oh yeah?” In “Confessions of a Con Artist,” a veteran scammer, identified only as Jim, tells writer Doug Shadel how he bilked investors out of millions through bogus investments in attractive-sounding assets like gold coins and oil and gas leases. The guy was a pro, an expert at identifying his victims’ hopes and weaknesses and preying on them. “I didn’t want to talk to stupid people,” he says, “because stupid people don’t have $50,000 lying around to give me.”

    Seniors proved a particularly vulnerable target, Jim says: “Their emotional needs are closer to the surface…”

  • Sep 23, 2011
    4:51 PM ET

    Investment Scammers’ Surprising Target (It’s Not Granny)

    iStockPhoto

    When we think of investment fraud victims, most of us envision a little old lady getting tricked by a sly con man.  But the reality is much different: the typical mark is a boomer guy.

  • Sep 23, 2011
    12:25 PM ET

    Heck No, We Won’t Go! Is “Forced Retirement” OK?

    iStockPhoto

    An article in the Wall Street Journal this week tells the story of 68-year-old Norway resident Karin Johansen, an insurance adviser whose company tried to force her retire. “Depressed” by the idea, Johansen fought back, taking the case all the way to the Norwegian Supreme Court.  But the court sided with her employer, Norwegian insurance company Gjensidige, and Johansen was forced into a “mandatory retirement.”  It’s a situation, the Journal says, that’s happening across Europe.  But for those of us in the U.S., is there anything to worry about?

    The answer: It depends.

About Encore

  • Encore examines the changing nature of retirement, from new rules and guidelines for financial security to the shifting identities and priorities of today’s retirees. The blog also explores news that affects retirement, from the Wall Street Journal Digital Network and around the web. Lead bloggers are reporter Catey Hill and senior editor Jeremy Olshan. Other contributors include The Wall Street Journal’s retirement columnists Glenn Ruffenach and Anne Tergesen; the Director for the Center for Retirement Research at Boston College, Alicia Munnell; and the Director of Research for Pinnacle Advisory Group, Michael Kitces, CFP.