Lester Reed describes how he was targeted in an elder abuse fraud case.
It used to be that investors only had to look for the best financial opportunities to make money, but in today's economy, making safe investments is just as important as making smart ones. During the studio portion of the program, NET senior producer Mike Tobias interviews Jack Herstein, Rod Griess and Karen Reynolds from the Nebraska Department of Banking and Finance. They discuss investment fraud, with a special focus on two common types -- elder abuse fraud and affinity-based fraud. In addition, they describe several fraud cases, share warning signs of trouble and explain what you can do to protect yourself and your loved ones from financial fraud. In a videotaped segment, Tobias tells the story of a victim of elder abuse from rural Nebraska who got involved with a Canadian lottery scam, lost more than $50,000 and maxed out the balances on his credit cards. And, in another segment, Herstein and Sheila Cahill, also from the Nebraska Department of Banking and Finance, offer basic investor literacy advice, including how to follow your investments.