Wednesday, 22 May 2019

Seniors beware: Shady investors target Villages, other investors with unregistered securities

The Kosters saw the advertisement in The Villages Daily Sun newspaper that serves mostly the retirement community and surrounding area. It was a small notice, but it packed a big financial promise.

“Seniors: Are the new CD rates too low? Learn how you can earn fixed total returns from 12 percent.”

Cool! But 12 percent? Do you have to sign away your first-born? Nah, it turns out that your life savings will do.

Yvonne and Don Koster, now in their early 80s, didn’t feel quite right about the investment even after a salesman came to their Belleview home in 2003 and explained it.


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