Fighting fraud for seniors

The 'Iowa Fraud Fighters” are coming to Cedar Rapids, with hopes of helping Eastern Iowans avoid a litany of fraudulent investment schemes.

Iowa Insurance Commissioner Nick Gerhart, Attorney General Tom Miller, Iowa Department on Aging State Elder Abuse Program Director Linda Hildreth and Senior Health Insurance Information Program Director Kris Gross will lead presentations and a panel discussion at noon Thursday, at The Hotel at Kirkwood Center. Anyone hoping to attend the free event can RSVP by calling (866) 559-7114 or go online at iowafraudfighters.gov by Monday.

It's one stop on a tour intended to stem a sobering trend. The insurance division says 5 million Americans over age 60 are defrauded out of nearly $3 billion each year by con artists. Many are the victims of Ponzi schemes, fraudulent telephone solicitations, precious metals investment scams and a long list of fraudulent activities.

Gerhart cites the example of Martha-Jo Ennis, a retired teacher from Marion who lost her retirement savings in a Ponzi scheme perpetrated by Noah Aulwes, who owned Cedar Rapids' Covenant Advisors. Auwles pleaded guilty to theft, and victims who gave impact statements in court said Auwles preyed on retirees, citing Christianity mixed with charm.

Some Iowans are embarrassed to report fraud, but they shouldn't be. Their reports are invaluable in helping officials track down scammers. Friends and family of victims should encourage their loved ones to report incidents.

He said many schemes are highly complex and difficult to sniff out, and the easy availability of personal information online helps fraudsters create seemingly legitimate sales pitches. Gerhart says Iowans shouldn't become 'courtesy victims” who are afraid to say no and hang up.

That's why education is so important. The forum will provide attendees a chance to get the latest information on potential fraud from multiple agencies. Tips are also available at iowafraudfighters.gov.

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