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No Free Lunch for MI Seniors

September 29, 2010

LANSING, Mich. - The struggling economy in Michigan is setting the stage for scam artists who are targeting seniors. In many cases those seniors have lost some return with their retirement investments and are desperate to make up ground. The AARP in Michigan is warning seniors about the growing problem of investment fraud. The AARP Senior Manager Jacqueline Morrison says there are red flags.

"The first thing to look for is when you hear the words high return, low risk."

Morrison explains a common way for scam artists to con their victims is by offering a free lunch or dinner seminar. She adds high-pressure, seeking personal information, and offers that require an immediate decision are other red flags pointing to a possible scam. You can call the state Office of Investment and Insurance Regulators at 1-877-999-6442 begin_of_the_skype_highlighting 1-877-999-6442 end_of_the_skype_highlighting to run a check.

Morrison says the lunch and dinner seminars often times put pressure on seniors to make a decision on the spot.

"If it's a good deal today there's a good chance that it will be there after you check it out."

More information online at www.aarp.org/nofreelunch.

Glen Gardner, Public News Service - MI