After a recent onslaught of complaints, multiple organizations have teamed up to create a coalition to protect senior citizen veterans from predatory financial scams. The new project, known as the San Francisco Veterans Benefits Protection Project, or VBPP, seeks to prevent pension poaching scams from reaching seniors.
With the number of elder financial abuse scams on the rise, groups have also noticed a trend in targeting senior veterans with “unsuitable deferred annuities and dangerous irrevocable living trusts in order to qualify the veterans for government benefits.” Now groups such as the Institute on Aging and California Advocates for Nursing Home Reform are working hard on a project to get the word out about these malicious schemes to seniors and senior living facilities.
Shawna Reeves, Director of the Institute on Aging, says of the project, “sends a clear message to pension poachers that their unethical practices will not be tolerated in San Francisco.”
The VBPP hopes that their project will inform seniors, family members, attorneys, and other groups on how to avoid these scams and what to do if they’ve already fallen victim to one.
Organizations mentioned/involved: Institute on Aging (IOA), California Advocates for Nursing Home Reform