Two senators have introduced a bill with the goal of making it easier for financial institutions to report to authorities suspected fraud against older adults. Will the third time be the charm for the...
SEC charges senior living executive with fraud, freezes assets
By
Lois A. Bowers
Jan 23, 2017
A South Carolina businessman has been charged with fraud and has had his assets frozen after the Securities and Exchange Commission alleged that he diverted funds raised from investors to buy or renovate...
Western Union to pay $586 million to compensate senior fraud victims, others
By
Lois A. Bowers
Jan 19, 2017
Western Union will forfeit a record-setting $586 million after admitting to the Justice Department that it aided and abetted wire fraud and did not maintain an effective program to deter money laundering....
Protecting older adults and retirement investments a priority in 2017, SEC says
By
Lois A. Bowers
Jan 12, 2017
Senior investors and retirement investments will be a major area of focus for the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations in 2017, the SEC announced...
Assisted living owner loses $950,000 to lawyer’s misdeeds, bar association says
By
Lois A. Bowers
Jan 10, 2017
An owner of assisted living facilities in Florida has lost almost $950,000 after working with an attorney whom she entrusted to help with their sale, according to the Florida Bar Association, which petitioned...
$8.86 million False Claims Act settlement set state record for 2016, government says
By
Lois A. Bowers
Jan 04, 2017
A case involving the country’s biggest private owner and operator of independent living communities for older adults was the largest single civil collection resolved by the U.S. Attorney’s...
Senior living community developer stole $9.6 million from investors, SEC says
By
Lois A. Bowers
Jan 03, 2017
A California-based developer of senior living communities stole at least $9.6 million from foreign investors to finance his businesses illegally and pay for his “luxury lifestyle,” the Securities...
5 big issues in senior living in 2016
By
Lois A. Bowers
Dec 29, 2016
Looking back on our coverage of the senior living industry and the issues that affected it in 2016, several common themes emerge. Five are detailed in this year-end review.
American Senior Communities case defendant agrees to plead guilty
By
Lois A. Bowers
Dec 19, 2016
One of the defendants in the alleged $16 million fraud, kickback and money-laundering scheme involving former executives of American Senior Communities has agreed to plead guilty to charges against him,...
Education key to preventing financial exploitation of residents, researchers find
By
Lois A. Bowers
Dec 06, 2016
If you want to help prevent residents from being victims of financial abuse, educate them. That’s a key takeaway for senior living operators from a new report on elder fraud from Florida State University.