• RSS
  • Twitter
  • Facebook

Consumerist

Want Consumerist in your inbox? We will not sell or rent your email

SCAMS
Dateline Investigates Shady Annuity Salesmen Targeting Seniors

Dateline Investigates Shady Annuity Salesmen Targeting Seniors

By consumerist.com April 15, 2008

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…

Popular Posts

  • Papa John's Delivery Guy In Trouble Because Cocaine Is Not A Legal Pizza Topping
  • Customer Repays Chef 15 Years Later For Valentine's Dinner He Couldn't Afford
  • Zombie Amazon Returns More Common Than You Might Think
  • Waitress Fired By Amy's Baking Company Tells All
  • Makers And Stars Of Porn Being Turned Away By Some Banks

About Consumerist

  • About Us
  • No Commercial Use
  • Privacy Policy
  • User Agreement
Powered by WordPress.com VIP

Return to top of page

Proudly powered by WordPress · Theme: Modern News by StudioPress.