Stanford Launches Elder Fraud Research Center, Identifies Unconventional Victims

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1 Home About Privacy Policy Advertise Companies Enter Search Terms search Home Medicare/Medicaid Affordable Housing Tech CCRCs Long Term Care International Finance Development Stanford Launches Elder Fraud Research Center, Identifies Unconventional Victims eecker October 9, 2011 Ask a Lawyer Online Now A Lawyer Will Answer You Now! Questions Answered Every 9 Seconds. Law.JustAnswer.com Elder Abuse Lawyers Time is Limited to File Your Claim. Contact Us for a Local Lawyer! Stanford University has launched an interdisciplinary research center focused on financial fraud targeted toward seniors. Thus far, its experts say that the victims may not be who you would expect. The factors that go into making people vulnerable are not well understood Even people who did everything right are finding themselves in situations where those savings are being stolen, Professor Laura Carstensen, founding director of the Research Center on the Prevention of Financial Fraud, told the Stanford Daily. Cartensen noted that most victims are over 50 years old. The victims are far from helpless, the report notes. They are often financially savvy and have trusted relationships with financial advisers and institutions. We assumed that the people who were defrauded were less financially literate wouldn t you think so? asked Doug Shadel, another expert at the new center. It s not the case at all. The targets often include doctors, lawyers and presidents of companies, he told the Stanford Report. The center is part of Stanford s Center on Longevity and the FINRA Investor Education Foundation, and through interviews with hundreds of fraud victims and a dozen con artists, has identified known trends about victims and those who defraud them. The victims are largely open to sales approaches in general, and are often in a heightened emotional state. They are hesitant to admit they have been targeted, often making it difficult for their families to intervene. They re exposing themselves to the marketplace, Shadel said in the report. Written by Elizabeth Ecker 1 Vote Like Sign Up to see what Category: Senior Housing, Senior Living This Post Print This Post Subscribe If you enjoyed this article, subscribe to receive more just like it. Address Subscribe 1/7

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4 Sign Up for Free Updates Daily news on the senior housing industry delivered to your inbox. Address * Subscribe No thanks, sign me up for Weekly Updates. Sponsored By Popular Recent Comments Archives On the Record: Adam Kane, SVP of Corporate Affairs at Erickson Living Ohio Unveils Aggressive New Approach for Dual Eligibles LTC Seniors Housing Group Represents Sale of Two Rental Retirement Communities WSJ: Medicaid Getting Harder to Tap for Long-Term Care Senior Financial Fraud On the Rise, SEC Calls for Federal Action Bloomberg: Nursing Homes Won t Have to Hire Independent Pharmacists Consumer Group Bashes SNF Industry for Inferior Care Despite Astonishing Profits State Watch: Long-Term Care News from Around the Nation (4/9/2012) Sabra Gets Two Pa. Skilled Nursing Facilities for $29.9 Million, Makes Loan Investment On the Record: Adam Kane, SVP of Corporate Affairs at Erickson Living Andrew Carle: While an improvement over the 12 x 24 "Granny Pods" dropped in the backyard at a cost of $ factcchecker: That is silly, states cut medicaid because its easy and they don't have to rely on the hard cho Susan: A Place for Mom certainly enjoys a very tainted reputation for bad business practices in the past, Ramesh Gulatee: I am an architect with affiliations with ASA Chicagoland and am much aware of issues relative to agi Joe Passkiewicz: Great article as always Alyssa! We are seeing the same trends as you describe in your article. The Archives: Select Month Categories: Select Category Tags: 4/7

5 Select a Tag Acquisition and Financing Deals Sabra Gets Two Pa. Skilled Nursing Facilities for $29.9 Million, Makes Loan Investment Sabra Health Care REIT, Inc. (NASDAQ:SBRA) recently acquired two skilled nursing facilities located in Pennsylvania for $29.9 million, and also funded a mezzanine loan investment for Meridian Equity Investors. The nursing facility acquisitions were a sale-leaseback transaction with affiliates of the sellers; the purchase prices was funded with available cash. Each facility has 60 licensed [...] April 9, 2012 Comments (0) More Senior Housing & Care Finance Activity: Berkadia, Lancaster Pollard, Love Funding Berkadia Originates $62 Million in Senior Housing Financing in Three Transactions Berkadia Commercial Mortgage recently originated a total of $61.7 million in financings for seniors housing properties located in California, Oregon, Texas, and Virginia. Berkadia Arranges $17.5 Million of Refinancing for Two Emeritus-Operated Communities For two communities operated by the Emeritus Corp., Berkadia arranged a [...] April 5, 2012 Comments (0) More An Inside Look at How Senior Care Lenders are Responding to Rate Cuts Excellent communication, a good reputation, and solid financials are crucial to senior care operators ability to get financial support in the current economic and reimbursement environment, said a panel of financiers during a session on how lenders are responding to Medicare rate cuts at NIC s 2012 Skilled Nursing Investment Forum. Key Considerations for Developing Operator-Lender [...] March 29, 2012 Comments (0) More Senior Housing & Care Finance Activity: Cambridge, Ziegler, & More (3/29/2012) Cambridge Realty Capital Closes $7.7 Million HUD Refinance for Ill. Senior Living Center Cambridge Realty Capital Companies closed a $7.7 million HUD Lean loan to refinance an Illinois assisted living facility in Springfield, Ill. The 40-year, fully-amortized loan was for the Springfield Supportive Living Center and was arranged for the property s owner through HUD s Section [...] March 29, 2012 Comments (0) More HUD Busts Through LEAN Queue; Invites Industry to Bring Us Your Deals The Department of Housing and Urban Development (HUD) has officially busted through the infamous queue for its Section 232 program, it revealed at the Eastern Lenders Association Conference held in New York in early March. Michael Vaughn, the acting director of HUD s LEAN Section 232 program, dropped a bomb on attendees regarding the status of [...] March 19, 2012 Comments (0) More Senior Housing Jobs CWSG Analyst Boston, MA - Cushman & Wakefield Director of Operations Evanston, IL - Mather Lifeways Assistant Senior Housing Mgr Yeadon, PA - Presby's Inspired Life Senior Housing Management SC - Woodbine Senior Living Housekeeping Assistant - Senior Housing Olathe, KS - Evangelical Lutheran Good Samaritan Society Senior Housekeeper Noblesville, IN - Riverview Hospital Senior Housekeeping Service Worker (Two (2) Positions Available) New Brunswick, NJ - University of Medicine and Dentistry of New Jersey - New Brunswick See All Jobs Post a job for $50 5/7

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