Operation Broken Trust' targets financial fraud
By PETE YOST
The Associated Press
Monday, December 6, 2010; 6:29 PM
WASHINGTON -- A nationwide law enforcement crackdown targeting financial fraud has led to cases against 343 criminal defendants involving $8.3 billion in estimated losses, Attorney General Eric Holder announced Monday.
"Operation Broken Trust" is the first national effort of its kind aimed at a broad array of investment fraud schemes and the 3 1/2-month campaign was organized by the Obama administration's Financial Fraud Enforcement Task Force.
The schemes that were uncovered highlight "the pervasiveness of the threat," Shawn Henry, the FBI's executive assistant director, told a news conference.
In one case in Texas, an oil and gas investment Ponzi scheme defrauded 7,700 investors of more than $485 million. In another case, in Chicago, the operator of a Ponzi scheme victimized elderly Italian immigrants and hundreds of others after promising them annual returns of 10 to 15 percent.
Seventy-five investors lost $89 million in a Ponzi scheme in Florida. Nevin Shapiro, who pleaded guilty for his role in the scheme, used some of the money to pay illegal sports gambling debts, to buy floor seats at Miami Heat basketball games and to make payments on his yacht and his residence in Miami Beach.
Two Florida-based hedge fund managers, Bruce Prevost and David Harrold, were accused by the Securities and Exchange Commission of fraudulently putting more than a billion dollars' of investors' money in a Ponzi scheme operated by Minnesota businessman Thomas Petters. The SEC says that when Petters was unable to make payments, Prevost and Harrold concealed it from investors.
Yet another Ponzi scheme targeted members of the Haitian community in Florida, claiming 500 victims who lost $14 million after being promised that they would double their money in 90 days. A participant in the scheme, Ronnie Bass Jr., was convicted in federal court in October.
The law enforcement operation is a warning that cheating investors out of their earnings and savings "is no longer a safe business plan," said Holder.
In addition to the criminal cases arising from the probe, civil cases involved estimated losses of more than $2.1 billion.
In all, the schemes harmed more than 120,000 victims. Eighty-seven defendants have been sentenced to prison. There were 231 criminal cases and 60 civil enforcement actions.
FEMA Encourages Seniors And People With Special Needs To Prepare For Winter NEW YORK, N.Y. -- The onset of winter-like weather requires a resetting of the preparedness refresh button for millions of elderly Americans and those with physical, medical, sensory or cognitive disabilities. Extreme cold and harsh winter storms can dramatically increase the daily hardships and day to day survival challenges for this population.
With temperatures dropping and snowflakes beginning to fall, the Federal Emergency Management Agency (FEMA) says that now is the time to take a few easy steps to prepare for emergencies.
FEMA officials urge seniors and people with disabilities to: - Make prior arrangements with your physician or check with your oxygen supplier about emergency plans for those on respirators or other electric powered medical equipment.
- Plan now to have electrical backup for medical equipment.
- Develop a back-up communications plan in case land lines are disrupted by having a charged cell phone or a pager.
- Maintain a two-week supply of medications, both prescription and non-prescription.
- Have copies of your medical records, prescriptions and medical needs readily available.
- Plan now to have accessible transportation in case of evacuation.
- Have contact lenses, extra eyeglasses and batteries for hearing aids ready to go.
- Include your service animals and pets in your plans.
- Think ahead about neighborhood shelters that can accommodate the needs of seniors and the disabled.
FEMA also recommends that people with special needs develop and stay in touch with a nearby network of assistance before winter storms or record cold move in. It’s important for neighbors, relatives, care attendants, friends and coworkers to be part of your care and communications circle. Never depend on one person alone.
Severe winter weather including snow, subfreezing temperatures, strong winds, ice or even heavy rain requires planning ahead.
FEMA recommends an emergency supply kit that includes: - A battery or hand crank powered radio, extra flashlights and batteries, and at minimum a week’s supply of food and water.
- Adequate clothing and blankets for warmth.
- First Aid Supplies.
Finally, it’s important to understand the terms of declining weather and pending winter storms. - A winter weather advisory means that cold, ice and snow are expected.
- A winter storm watch means severe weather such as heavy snow or ice is possible in the next day or two.
- A winter storm warning means that severe winter conditions have begun or will begin very soon.
Remember that planning ahead, assembling an emergency supply kit, staying informed and keeping those in your circle informed about you are the best ways to stay safe through the uncertain days of winter
FEMA's mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.
Focused on older driver safety
By Michael D. Bolden
This week is Older Driver Safety Awareness Week, according to the American Occupational Therapy Association, which founded the activity with the goal of ensuring that "older adults remain active in the community ... with the confidence that transportation will not be the barrier to strand them at home."
The National Transportation Safety Board says that within 15 years people 65 years of age or older will make up more than 20 percent of the driving population. The NTSB held a forum last month to look at issues related to the growing number of older drivers.
Several organizations have endorsed the week, including AAA and AARP.
"The fastest growing segment of the country's population is people who are age 65 and older," said Jake Nelson, director of AAA Traffic Safety Advocacy and Research. "The issue of senior driver safety and mobility touches millions of families. Older Driver Safety Awareness Week is an opportunity for families to start a conversation about safe mobility and address any real and perceived challenges associated with driving and aging."
The American Occupational Therapy Association has provided a daily list of topics for consumers to explore related to older drivers. The list includes: Resources available on the association's Web site include podcasts about the each of the daily topics and guides on helping and having conversations with older drivers.
Study: Older people are driving more, having fewer accidents
By Ashley Halsey III
Washington Post Staff Writer
Tuesday, June 22, 2010; A10
Here is the stereotype: White-haired senior driver poking nervously along the highway, frustrating younger drivers in a rush to get past.
Here was the concern: Experts predicted crash rates would soar as America grew older.
Here's the reality: Older people are driving more, crashing less and their fatal accident rate has dropped by 37 percent.
The biggest drop of all -- 47 percent -- came among drivers over the age of 80.
This all emerged in a study released Tuesday by the Insurance Institute for Highway Safety, an insurance industry group whose research benefits from both federal highway statistics and data collected by the companies whose policies cover the cost of accidents.
While the numbers made the trend clear, they didn't provide a solid explanation for the striking difference between what was anticipated and what came to pass. Neither could the experts who compiled the statistics.
The same things that have factored in an overall decline in highway deaths -- safer vehicles, safer roads, more seatbelt use and fewer drunken drivers -- also applied to those 70 and above, but there had to be more.
The researchers compared the numbers for older drivers with a control group whose members were between 35 and 54, a range selected because those drivers have graduated from the age of risky behavior and have not yet reached the onset of age-related impairments.
The older drivers did far better than the control group.
The drop in fatal accidents among the 70 and older crowd was 14 percent steeper and the decline in non-fatal crashes was 11 percent lower.
"Issues relating to health must have a role in it, but it's hard to know just how yet," said Anne T. McCartt, co-author of the report. "We believe that there's been more self-restricting now that there's a lot more information out there on the subject. It's also possible that travel patterns for seniors have changed."
The population that has reached the 70 milestone is projected to grow from about 30 million to 67 million in the next four decades. Those who are 85 and older will increase from just under 7 million to 19 million during the same period, according to U.S. Census data.
The Federal Highway Administration determined that between the mid-1990s and early 2000s, the average number of miles driven by people 70 and older increased from 6,064 to 9,000 miles a year.
Part of the reason might be that more-mobile people are graduating into the ranks of the 70-and-over crowd, where the numbers holding drivers licenses swelled by almost 4 million between 1997 and 2008.
"If you think about the baby boomers and how they're changing things, maybe they're taking longer trips?" McCartt said. "In the past, older drivers have been less likely to drive on the interstates, even though they are safer than local roads. The baby boomers may be less reluctant to do that."
The suggestion that older drivers were modifying their driving habits was supported in a survey last year by the MIT AgeLab and the Hartford Financial Services Group. More than half of drivers 75 and older said they avoided driving at night and in bad weather.
Federal data from 2008, the most recent year available, indicated that 80 percent of fatal accidents involving older drivers took place in daylight.
The general improvement in the health and fitness of older people also might help explain why they escape more serious injury when they do crash and are better able to avoid crashing.
"As a general thing, people are healthier now," McCartt said. "And if you can see better or turn your head better, you are less likely to get involved in crashes."
The percentage of people 75 and older who said they had trouble seeing, even with glasses, declined by four points to 18 percent between 1997 and 2007, according to the National Center for Health Statistics.
McCartt said the institute had begun a long-term study of older drivers to better understand why they have defied predictions by becoming less accident prone. "If you come up with a good reason, give me a call, and we'll research it," she said.
Boomers carry drug problems into golden years
MICKI STEELE
The Detroit News
Anthony Gaddie has been addicted to alcohol for 42 years. As a child, he felt unloved and called the drink his "buddy."
"It would warm me throughout my body," said Gaddie, 51, of Detroit.
At 13, he tried heroin for the first time with a few older guys in his east side neighborhood. Experimenting with drugs engendered a sense of belonging.
"The love I wasn't getting at home, I would get through the drugs," he said.
Gaddie's downward spiral deepened in the late 1990s when he lost his job as a pressman and began selling drugs to support himself. An arrest for heroin possession three months ago finally led him to seek treatment.
"That's when I began to like being sober," he said. "Drugs tore my life up."
Gaddie belongs to a growing number of older adults grappling with drug and alcohol addiction — the baby boom generation that came of age in the turbulent '60s and the hard-partying '70s.
"Baby boomers used when they were young and now they're using when they're old," said Tom Johnson, chief executive of Westland's Apex Behavioral Health, an outpatient treatment facility.
Drug treatment professionals fear that clinics won't have the resources to keep up with demand.
Untreated drug addictions result in hospitalizations, crime and increased burdens for police agencies, courts and prisons at a time when Michigan's state and local governments face deepening budget problems.
"The boomers are continuing to use addictive substances at higher rates than the generation before them," said Susan Foster, director of Columbia University's National Center on Addiction and Substance Abuse. "We could see it, but we didn't plan for it. We don't have the money to invest in treatment, but if we don't (treat), we're going to pay for more."
Growing numbers
The number of adults 50 and older who are substance abusers is expected to grow to 4.4 million in 2020, up from 1.7 million in 2001, according to an estimate released in 2007 by the federal Substance Abuse and Mental Health Services Administration.
Similar patterns have emerged in Michigan. Admissions at publicly supported drug treatment facilities have more than doubled in the past decade among people over age 50, based on an October study by the Michigan Department of Community Health.
According to updated numbers in the study, 8,833 people over 50 were admitted to such programs in 2009, up from 4,388 in 2000. Among those younger than 50, admission rates declined 6 percent.
Substance abuse and addiction accounted for 18 percent of Michigan's state budget and ranked second at nearly $5.3 billion, behind elementary and secondary education, according to a 2005 study by the Columbia center. However, only 2 cents of each dollar was spent on prevention and treatment.
The rest, Foster said, was allocated to costs associated with untreated addiction, such as physical and mental health problems and paying to arrest, prosecute and incarcerate people for drug-related crimes.
Some stakeholders fear cutbacks in government funding have made it difficult to treat a population with a longstanding problem, since the time allowed for treatment has dropped in the past decade from 12 to 18 months to 30 to 180 days.
"We're less and less successful at getting people turned around now, because of the cost," said Jerry Foster, director of Sobriety House, a 60-bed treatment center in Detroit.
Unemployment plays role
Some experts say joblessness, especially in Michigan, where unemployment is 12.8 percent, often triggers a drug episode for recovering substance abusers.
"Not having a job and the inability to obtain a job kind of sets off the idea of 'poor me,'" said Harvey McMikel, head therapist at Sobriety House.
"So, I might as well go ahead and have a drink."
Donald Thompson, a 53-year-old Detroiter who has been in treatment for two months, said drug use kept him from holding a job as a mechanical draftsman. The stress of being out of work, he added, led to more drug use.
Thompson, who is unemployed but hopes to become a minister, said he has learned the underlying causes of his addiction in treatment.
"Substances are used to handle feelings, instead of a normal way of dealing with depression or even good feelings," he said.
About 80 percent of older adults began using alcohol and other drugs by age 25 or younger, the Michigan study shows.
The likelihood of addiction, a complex brain disorder, is strengthened if exposure to alcohol or drugs occurs when the brain is still developing, Foster said.
"If you start drinking before you turn 15, you're four times more likely to become an alcoholic than if you had waited to turn 21 or older," she said.
Gaddie, the Detroit man who entered treatment this fall, is an example of the destructive effects of youthful drinking.
Gaddie recalls tasting alcohol for the first time by sneaking drinks while helping his siblings clean up after a party hosted by his parents. Then just 9, he enjoyed the sensation and kept imbibing while alone.
Then his mother passed away, leaving a 10-year-old boy with an emotionally distant and workaholic father and four sisters.
Gaddie said his alcohol use increased and branched into drug use. As an adult, he worked steadily, got married and had a son. He worked as a machinist and later as a pressman for nearly 20 years, but his weekend drug and drinking binges began spreading into the workweek, eventually costing him his job.
His wife, who was diagnosed with kidney cancer, died in 2008.
Gaddie's treatment at the west side facility where he has lived since October ends in one month. Then he will have to move out and look for a job. He said he wants to be an example for his grandson and stay sober.
"I just need to stay away from dirty situations," he said, "after 42 years of using and just 30 days of being clean."
Town departments work together on elder issues
Members of TRIAD handed out packets of information to shoppers at Stop & Shop on a recent Sunday. From left, Officer Gregg Hartnett, police liaison to TRIAD, Joe Canavan, TRIAD director for the Norfolk County Sheriff’s Department, and members of the high school Explorers program, Daniel Piepenbrink, Aaron Bates and Matthew Brooks.
There’s a new group in town devoted to helping and protecting seniors in the Cohasset community.
Representatives from several town departments — Cohasset police, fire, elder affairs, seniors, public health nurse, and the county sheriff’s department — have formed a partnership to address issues related to elders in our community.
The goal of TRIAD is to prevent victimization and promote safely and security for older adults in the community, said Elder Affairs director Coral Grande.
TRIAD is not a new idea, in fact is has been in existence across the nation for decades, but it has been recently revived here in town.
In years past, TRIAD councils have received grant funding from the county to support activities and town professional involvement. The money dried up several years ago and without it the program fizzled.
Not to be deterred, Grande and the other town departments have rallied around the cause to bring more awareness and aid to seniors in the community.
“The money is nice, but you don’t need it to have TRIAD. It’s more about a coordinated effort across town departments,” Grande said, who was part of a successful TRIAD group in her previous position in Gloucester. “All of us want to do the best job possible to keep seniors safe.”
The group has hit the ground running and has already started in on projects. Recently, the group spent several hours of Sunday afternoon outside Stop & Shop handing out packets containing information about existing programs. For example, seniors should have a “File of Life” with key information, like medical conditions, emergency contacts, insurance and allergies, in case of a medical or other emergency. One file is kept on the refrigerator at home and another in a wallet.
“It speaks when you can’t. It’s a wonderful program and it saves lives,” Grande said.
TRIAD is also looking at ways to create more awareness about scams and fraud that pry on the elderly. In Cohasset, across all age brackets, not just seniors, residents are concerned about identity theft, scams, and other fraud. Many of those types of fraud specifically prey on the elderly.
“It’s a huge issue and concern and we only know the tip of the iceberg because no one wants to admit they have been taken advantage of,” Grande said.
The police department is an integral part of the TRIAD program. Officer Gregg Hartnett serves as the police liaison to elder affairs and joined TRIAD in September.
“The Cohasset Police Department’s goal of the TRIAD group is to expand our outreach to seniors through a town wide multi department effort. Working together with the Norfolk County Sheriff’s Department, Cohasset Fire Department, Elder Affairs and all members of Cohasset government to provide the most informative and safe living conditions for our seniors,” Hartnett said.
The goal of TRIAD gets to the heart of community policing, something Hartnett said he is passionate about.
“I felt taking on this role would be a great way to get more involved with the community, meet lots of people and make a positive difference in the senior community and the community as a whole,” Hartnett said.
Through raising awareness and teaching the older population about simple, commonsense steps they can take to protect themselves is one of the key goals of TRIAD.
Shredding sensitive documents, or even credit card applications, is one of those simple things. The Elder Affairs office has a shredder available upon request for that very purpose, Grande said.
In the coming months TRIAD will continue to work together on other efforts. Planned programs include a day of medication disposal, a speaker series, involvement in the recreation and health fair in March and fire and fall prevention home safety program.
“By promoting safety and security in our older population we’re enhancing it for the entire community,” Grande said. “It benefits everyone in the community to see information and efforts presented in an organized fashion.”
While all the town departments do their individual jobs well, Grande said, there is efficiency and power in working across town departments on issues.
“There’s always a better way to do things and when you do them together, it’s always better,” Grande said.
Members of TRIAD include police Officer Gregg Hartnett, Fire Chief Robert Silvia, Elder Affairs director Coral Grande, public health nurse Mary Goodwin, Elder Affairs outreach coordinator Carol Barrett, and Norfolk Country Sheriff’s Department TRIAD director Joe Canavan.
The group is looking for seniors to get involved as well. If interested, contact Elder Affairs at (781) 383-9112.
Copyright 2010 Cohasset Mariner. Some rights reserved
New Resource on Scam Alerts
If any of you are interested in getting scam alerts, please go to http://www.scamnot.org and register to receive them. There are usually between 2 and 4 scam alerts put out a month from this site. Nothing else is sent from that site and it is informational only. Myself and a gentleman from the local Agency on Aging are the two that send out the alerts and nobody else has access to the addresses it contains. The information in the address book is not shared with anyone else. You can register under your first name or full name and email address. Anyone can register at the site as it is not restricted in any way so feel free to share it with others if you find it helpful.
www.911cellhponebank.org | |
