The real source of elder fraud: you’re not going to like the answer

Something I read today stopped me cold.

I was reading an article about a woman who was sentenced to prison for bilking an elderly man with Alzheimer’s out of $2M. ($2M case highlights growing problem of financial fraud against the elderly.)

As I read I was shaking my head. What a horrible woman.

Then I got to the end.

“Unlike the Saenger case, however,” the author writes, “most financial fraud of the elderly involves family, with national statistics suggesting that nine out of 10 cases involve relatives.”

Did I read that right? 90% of elder fraud involves family members?

That’s very sobering.

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