Pacific Coast Business Times’ Post

Following on from my post yesterday on rogue will advisors, below marks another shocking case in which elderly and vulnerable members of the public have been defrauded. I think being live to cases such as this (which is listed for a Hearing under the Proceeds of Crime Act) demonstrate the sophisticated lengths some criminals will go to carry out their crimes, in this case setting up a fake business and holding himself out as a financial advisor in order to add an air of legitimacy. Crimes such as this really do happen on our doorstep so incorporating case studies into your internal training regimes can be an effective way of keeping your staff members engaged and understand why we need to #stopthebaddies.

Elder Financial abuse: Getting a criminal conviction for elder financial abuse is so significant. Usually the police consider it a civil matter and do not pursue it criminally. It is so good to have a case to show would be fraudsters that when they steal their uncle's money under a power of attorney, they may go to jail. #elderabuse #powerofattorney #financialadvisors

Matthews is scheduled to appear in U.S. District Court, where he could be sentenced to up to 15 years in prison for bank and real estate fraud. #usioneadvantage #parametricinsurance #climaterisk #climatechange #disasterpreparedness #nyc #newyorkrealestate #longisland #southbeach #california #texas #CommercialInsurance #RiskManagement #InsurancePremiums #ProactiveApproach #InsuranceBroker #ClaimsManagement #LossControl #RiskMitigation #PropertyClaims #InsuranceSavings #InsuranceStrategy #InsurancePlanning #InsuranceTips #InsuranceAdvice #InsuranceIndustry #InsuranceTrends #CostControl #BusinessStrategy #economy #affordablehousing #restaurantmanagement #restaurantindustry

Get the updates on the 'Annuity King' saga. Sentencing postponed, and more charges to come. Dive into the latest details of this case: https://innmb.com/3Z3lOOm

Worth reading: Sofya’s post demonstrating the onerous financial burden caused by uncontrolled Labor Law fraud and abuses.

📢 Recent News! A Sanbornville, New Hampshire man pleaded guilty last month to laundering money he was provided via romance scams. This "money mule" would receive money from the various older adult victims and wire the money to multiple overseas accounts. For more info on what sentencing can mean for money mules and what government agencies are doing to help older adults affected by these scams, check out the short article!

Does he actually have any money to pay this ? Home owners insurance and umbrella policies do not pay such costs. With the commission of a crime, the perpetrator’s property and casualty policies make no payments. How is this article even news? So many civil law suits are filed each year, against criminals but most victims have no real potential for receiving reparations. His car, house, and bank accounts can be taken. IRA and 401k balances are protected from creditors. What is often done is for victims to sue others around the perpetrator who provided assistance, weapon access, or reasonable knew that the crime could occur. Especially employers who had concerns about mental illness or behavior. The age old question, am I my brothers keeper? The answer could be yes if you knew and did not report mental illness, plans for the crime, supplied alcohol/drugs, or the car involved in the DUI. https://lnkd.in/gP25SJwX

Seventy nine (79) vehicles were stolen in Townsville in a one (1) week period (December 2023). Did you know: a portion of every "rego" payment in Queensland is provided to The Nominal Defendant Fund. Where a vehicle is negligent for causing an accident and cannot be identified (such as a stolen vehicle which flees from the scene), The Nominal Defendant steps in to pay Damages to the injured person/s. Where the accident involves a vehicle which can have its registration plate identified (say where the crash is so bad that the stolen vehicle remains inoperable at the scene), even though stolen and likely operated by an unlicensed juvenile, the CTP Insurer for that vehicle must step in to pay Damages. Longstanding CTP Insurer, RACQ Insurance, is departing the CTP Scheme. My view is Queenslanders will need to be ready to foot the bill for a hike to their "rego" as competition between major Insurers weakens (due to less competition), and, The Nominal Defendant/CTP Insurers start compromising the influx of these CTP Claims involving stolen vehicles during our Youth Crime crisis.

The purpose of Scams Awareness Fortnight is to highlight and raise awareness of scams and how to protect yourself, your family and your work. Unfortunately, it is not uncommon for fraudsters to run scams where they pose as enforcement agents targeting people, usually by phone or text, to pay a County Court judgment for debt. The scammers will claim to be either a High Court Enforcement Officer (HCEO), Certificated Enforcement Agent (CEA) or HMCTS County Court bailiff. To learn how to deal with enforcement scammers and keep yourself safe click the link below and read our article. https://zurl.co/SGXD #Scammers #Advice #Enforcement #HighCourtEnforcement #Bailiffs #EnforcementAgent

I am always skeptical when I see a police report indicating a high dollar loss with no desire to prosecute the case. No desire to prosecute usually means no investigation. I always tell our officers to ask more questions because if you lost $50k would you not want to prosecute the person who stole it from you? Law enforcement's job isn't to only take the report but to ensure there is enough evidence to support the belief that a crime has occurred. I always say it, a patrol officers job description normally includes the requirement to conduct preliminary investigations. When you ask the right questions you can often deter the fraudulent report at the start. #SIFLET #fraudawareness #insurancefraud ##fraudprevention