Inside LADA

October 26, 2018: Free Lunch Seminars Lure Seniors into Investment Scams

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Everybody loves a free lunch, but seniors in particular should be careful not to get lured into making bad investments by the promise of free food.

In the Free Lunch Investment Seminar Scam, unscrupulous business people offer meals at financial presentations and pressure attendees into often risky ventures.

A sense of urgency, a requirement of large amounts of cash upfront and promises of high returns are warning signs that an investment seminar may be a scam.

People who accept a free lunch or other complimentary services are under no obligation to invest money or buy a product or service. 

TIPS:

  • Research the company promoting the investments before attending a seminar.
  • Never provide personal information such as a Social Security number, account number or PIN.
  • Take your time and consult with someone you trust before committing to an investment.

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