Senior citizens urged to remain vigilant, aware of scammers and frauds

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By: Amy Efta

An effort to raise awareness for scam and fraud tactics came to Richland County on Wednesday, Oct. 9, when Matt Rosedale, commissioner of securities and insurance for Montana, stopped by the Senior Citizen Center in Fairview. Rosedale and his team presented to senior citizens about exploitation, ways to spot illegal schemes and general advice to avoid falling victim.

“What we have is a situation where 20 percent of the population of the state of Montana are seniors,” Rosedale said. “You control about 70 percent of the state’s assets. A harsh reality is you have become extremely large targets for unscrupulous people that want to perform scams.”

Lynne Egan, deputy securities commissioner, presented information to attendees about Ponzi and pyramid schemes, real-life examples of such schemes in Montana, illegal investment practices and how to check their legitimacy — call the Montana Commission of Securities and Insurance at (406) 444-2040.

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