Personal Finance
Adviser scams 61 year old client to put his name on her joint account and withdraw cash on her behalf
By Investment Moats  •  November 28, 2015
I seen a lot of low-life shares on social media and news media. This one ranks high up there. It just so happen to be a financial adviser. The firm is not important here. This is to bring awareness how much harm influence, suggestions can wreck havoc into the lives of ordinary citizens. This 45 year old insurance agent heartlessly scam his 61 year old friend, taking advantage of her trust and illiteracy. Here is a list of atrocious things done:
  1. Scam her to sign documents, telling her that he is leaving the insurance company. The papers were in actual fact authorizations to let the insurance agent received $2081 in cheque and $6500 on her behalf
  2. Manipulated her into adding the insurance agent as a joint account holder, so that he can have assess to her money
  3. He took her money and went to gamble, and when its not enough, ...
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By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
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