A California man has been sentenced to 16 years in federal prison for his part in what prosecutors believe is the largest mortgage modification scam in history, defrauding victims out of $31 million. [More]
Your parents may assume they have more financial knowledge than you due to their extensive experience, but you shouldn’t assume the same. New scams pop up all the time to exploit needs and trick people looking for quick fixes. If you can’t protect your parents from these types of financial traps, there’s probably no one who can.