Dateline Investigates Shady Annuity Salesmen Targeting Seniors

Dateline did a hidden camera investigation into the world of shady annuity salesmen targeting seniors and playing on their emotions to lock their life savings away in funds they may never live to receive the benefit from, or pay stiff penalties, not disclosed in the sales pitch, for early withdrawal. In this clip, Dateline producers attended "Annuity University," a two-day session run by Tyrone Clark to teach them how to sell to elders. He settled with the state of Massachusetts after he published a sales pamphlet that told salespeople to treat seniors "like they were selling to a twelve year old" and to hit their "fear, anger, and greed buttons" to make the sale. He also sells questionable self-promotional tools and services. In one of them, a fake radio guy will call up the salesperson and interview them like they're a financial expert on the radio. The session is recorded and the salesman gets CDs to pass out, so they can pass themselves off as legitimate financial advisers. Video, inside...

Centura Bank Manager Steals $82,000 From Elderly Customer's Account

A Centura bank manager was arresetd on suspicion of defrauding an 86-year old man out of $82,000 from his bank account. Milton Hagelberger helped the old man set up his checkbook, then set up a second account under the old man's name and made himself an ATM card. The manager had the account statements mailed to an empty lot across the street from the bank so the man wouldn't see the missing money. The victim only found out about the fraud after he tried to cash a check and found he had insufficient funds. We're often worried about outside identity thieves stealing our moneys over the internet, but sometimes identity theft happens in the flesh, right in front of our face.

Bank Manager Fleeces Elderly Man [The Tampa Tribune] (Thanks to ForgottenPassword!)

infoUSA Calls "Unfair" NYT Article About How It Marketed Lists Of "Gullible" Seniors To Known Scammers,

infoUSA Marketed Lists Of "Gullible" Seniors To Known Scammers, Wachvoia Processed The Unsigned Checks

Bank Of America Let Conwoman Steal My Dead Aunt's Identity And Rob Her Safe Deposit Box