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Ponzi schemer's sentencing highlights need for investors to be on guard

Consumer Reports News: June 15, 2012 04:08 PM

The sentencing yesterday of $7 billion Ponzi schemer R. Allen Stanford, on the eve of Elder Abuse Awareness Day, was a useful reminder that the elderly are not the only victims of financial shenanigans.

Stanford, who appears to have been an equal-opportunity scamster, victimized multiple generations as well as rich and poor, and residents of several continents.

While Stanford may be locked up until 2122 or thereabouts, there are, unfortunately, many more where he came from. Here's some advice from Consumer Reports on protecting yourself and your family:

5 tricks and traps investors should avoid

Be on guard for investment scams

Beware of these scams: 10 common tricks and what to do about them

Related: Financial elder abuse is virulent and preventable

Greg Daugherty

   

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