Be Aware of the Top Ten Scams that Steal from Granny

CNBC recently published a list of the Top Ten Scams that are perpetrated against seniors in the US.

Scams cheat older Americans out of almost $3 billion a year. Here’s what to watch for

Seniors lose an estimated $2.9 billion annually from financial exploitation, according to the Senate Special Committee on Aging.

Screenshot (888)

Impersonating the IRS was the No. 1 scam targeting seniors in 2018.

More than 1,500 seniors across the country contacted the committee’s fraud hotline in 2018; however, Kansas Attorney General Derek Schmidt said in recent testimony that only 1 in every 24 cases of elder exploitation gets reported.

“Despite that under-reporting, statistically one in every 10 Americans age 65 or older who lives at home will become a victim of abuse,” he wrote.

Here are the top 10 scams targeting seniors last year, according to the Senate aging committee’s 2019 Fraud Book:

For a description of each of the ten, go back to CNBC or the Fraud Book mentioned above.

1. IRS impersonators
2. Robocalls
3. Sweepstakes scam/Jamaican lottery scam
4. Computer tech support fraud
5. Elder financial abuse
6. Grandparent scams
7. Romance frauds
8. Fake Social Security calls
9. Lawsuit or arrest threats
10. Identity theft

 
Identity thieves not only drain bank accounts and charge credit cards, but they also defraud the government and taxpayers by using stolen personal information to submit fraudulent billings to Medicare and Medicaid.

The Senate aging committee recommends that victims place a fraud alert, report identity theft or file a police report if a scam is suspected.

Sit down with elderly relatives and explain the kinds of frauds that they might experience and then take time and report fraud or suspected fraud.

Almost a day doesn’t go by that I don’t get some call about “free” knee braces and such!  How about you?

Georgia: Indian-American Businessman Arrested in Super Bowl Ticket Fraud

Ketan Shah was arrested recently at a casino in California after he skipped town with proceeds from a scam where he allegedly “sold” non-existent tickets to the Atlanta Super Bowl game.

Atlanta super bowl

Shah was described in news accounts as being a member of the board of the Georgia Indo-American Chamber of Commerce which quickly dumped him from the board.  See here.

Does it annoy you, it does me! to see that there are organizations like this one in America where they are working to promote their own ethnic group.

What happened to the idea of assimilation? Is America a hodgepodge of ethnic and racial groups each looking out for their own interests?  I never see the ‘melting pot’ pushers try to discourage this practice for ‘new Americans.’

From the Gwinnett Daily Post,

Gwinnett businessman accused in $1 million Super Bowl ticket scam arrested in California casino

The Gwinnett County man accused of scamming people out of nearly $1 million in Super Bowl tickets has been arrested in California.

Police began looking for Ketan Shah days before the Super Bowl, after several people, including his own mother, claimed the Lawrenceville man went missing after taking thousands of dollars.

Ketan shah
From Shah’s LinkedIn page:  https://www.linkedin.com/in/ketanvip

At least six people had reported to Gwinnett Police that Shah had offered to sell them Super Bowl tickets. One of the victims also reported he paid $500,000 for his entertainment company to host a large Super Bowl event at “an arena.”

The setup, incident reports show, was the same for almost all of the victims: Shah, a well-connected businessman in Gwinnett who was a board member of the Georgia Indo-American Chamber of Commerce, would provide the victims with their requested number of tickets after they sent Shah their money.

But that never happened, said Cpl. Wilbert Rundles, a spokesman for the Gwinnett County Police Department.

It was discovered that Shah was reported as a missing person in December. He returned home and was removed from the system, police said. It was discovered that he had gone to Las Vegas, Nevada, on what was described as a mid-life crisis. He left again a couple days later and his family had not seen him since.

More here.

Heck, this is such a strange fraud scheme, I’m going to leave it uncategorized!

By the way, as I build an archive of stories here, use the categories found in the right hand sidebar at Frauds and Crooks for further reference.

Tags at the end of each post include states (if applicable) so eventually you will be able to see how your state is doing in the frauds, crooks and criminals department!