A 2007 SEC report said over half the free-lunch seminars they scoped out had misleading claims, 13% were straight up frauds, and 100% of the “free seminars,” many marketed at seniors, were, shock of shocks, actually sales presentations.

In lean times, the wolves start salivating. The peddlers of get-rich-quick programs know Americans are choosing between paying the mortgage and putting food on the table. People and looking for a magic and fast solution to their money malaise. The sharks smell blood, so they turn up the volume to 11 in their marketing of “unique money-making opportunities.” They say you can make extra cash stuffing envelopes, buying up penny stocks, cashing checks, or selling lessons on how to sell lessons. It doesn’t matter if you have no job, credit, car or clue, they’re gonna make you a millionaire.

“Free Lunch” Investment Seminar Examinations Uncover Widespread Problems, Perils for Older Investors [SEC] (Photo: Getty)

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