Regulators Schedule Forums on Investment Scams
CEDAR RAPIDS, Iowa (AP) - Iowa's insurance commissioner has scheduled forums in Cedar Rapids and Davenport to educate the public on how to avoid investment and insurance scams.
Insurance Commissioner Nick Gerhart said a May 1 forum and panel discussion at The Hotel at Kirkwood Center would be limited to the first 210 respondents. A similar event is scheduled June 5 in Davenport.
Gerhart said the events are part of a education program called, "Iowa Fraud Fighters - Shield Your Savings." He said many con artists are targeting residents who are older than 60 with "very slick and sophisticated investment" scams that swindle millions of Americans out of billions of dollars every year.
The event will include information about common scams tips to prevent fraud. Attorney General Tom Miller and other state officials will participate.