Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Friday, March 14, 2008

SEC Chairman Discusses Scams Targeting Seniors

.........In the last year, the SEC has targeted what Cox called the free lunch seminar scams. In those, seniors are invited to a free meal, where they are promised investment education.

In every case, Cox said it turns out to be a high-pressure pitch from a salesman.

He said 59 percent of the ones the commission investigated had indications of fraud.

"That was a good area for us to crack down," he said.

Cox said the SEC has not totally shut down the free lunch scams, but he said it has reduced the number............

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