Kept us from achieving solutions. We must identify those who are in the best position to determine red flags early on and encourage reporting to other governmental agencies. In maine we discovered one of the most valuable rediscourse among others to develop senior life. Senior life was created to increase identification and report reporting it. Prior to this, we met with representatives from the banks and Credit Unions to identify barriers to reporting abuse and financial exploitation. What we learned is the system lacked a feed back laup so often. Training is involved of three components. Frontline staff are trained to identify red flags for elder abuse and financial exploitation and manage. Participations are and aps is better but the main office of securities has agree and determine whether to investigate the case or refer it to another federal or state agency. The benefits of this reporting or referral system are far reaching. It leads to improved safety and other customers of the
Financial advisor. Financial exploitation of Older Americans is a growing epidemic that cost seniors an estimated twopoint 9 billion in 2010 according to the gao. In maine a long there are 14,000 new reports each year of senior abuse which includes financial exploitation and in as many as 90 of financial cases the seniors victimized by someone he or she knows well. Many of these cases the victim is too ashamed to report financial exploitation particularly when it involves a Family Member. As a consequence the true incidence of this kind of abuse is not known. Identifying victims of financial exploitation in my state is particularly difficult because we take a lot of pride in our selfsufficiency. Its difficult for many seniors to ask for help. In addition since victims who have had their assets stolen by Family Members typically do not want their relatives to be criminally prosecuted, the stolen money is rarely recovered. Combating Financial Abuse of seniors is primarily the responsibil
watch ticking safer so this was the scene of the crime. Irving picard gave us a tour of Bernie Madoffs 19thfloor offices, an impressive landscape of emptiness. His desk was here. Safer picard has the thankless task of finding the money, the billions that madoff scammed. watch ticking Arlan Galbraith who called himself the pigeon king convinced hundreds of american and Canadian Farmers there was good money to be made raising the birds for food. And everybody we talked to said this guy washe was on the up and up. Nobody had a bad word to say about him. watch ticking stahl welcome to 60 minutes on cnbc. Im leslie stahl. In march 2009, Bernard Madoff pleaded guilty to perpetrating whats believed to be the largest financial fraud in history. He received the maximum sentence for his crime, 150 years in prison. But while madoff is behind bars, theres still much we dont know about the scam which involved, by some accounts, a fraud of more than 50 billion. Investigators are still trying to figu
Something wrong . It took me five minutes to know that it was a fraud. It took me another almost four hours of Mathematical Modeling to prove that it was a fraud. watch ticking safer so this was the scene of the crime. Irving picard gave us a tour of Bernie Madoffs 19thfloor offices, an impressive landscape of emptiness. His desk was here. Safer picard has the thankless task of finding the money, the billions that madoff scammed. watch ticking Arlan Galbraith who called himself the pigeon king convinced hundreds of american and Canadian Farmers there was good money to be made raising the birds for food. And everybody we talked to said this guy washe was on the up and up. Nobody had a bad word to say about him. watch ticking stahl welcome to 60 minutes on cnbc. Im leslie stahl. In march 2009, Bernard Madoff pleaded guilty to perpetrating whats believed to be the largest financial fraud in history. He received the maximum sentence for his crime, 150 years in prison. But while madoff is b
Safer so this was the scene of the crime. Irving picard gave us a tour of Bernie Madoffs 19thfloor offices, an impressive landscape of emptiness. His desk was here. Safer picard has the thankless task of finding the money, the billions that madoff scammed. watch ticking Arlan Galbraith who called himself the pigeon king convinced hundreds of american and Canadian Farmers there was good money to be made raising the birds for food. And everybody we talked to said this guy washe was on the up and up. Nobody had a bad word to say about him. watch ticking stahl welcome to 60 minutes on cnbc. Im leslie stahl. In march 2009, Bernard Madoff pleaded guilty to perpetrating whats believed to be the largest financial fraud in history. He received the maximum sentence for his crime, 150 years in prison. But while madoff is behind bars, theres still much we dont know about the scam which involved, by some accounts, a fraud of more than 50 billion. Investigators are still trying to figure out who was