Texas Securities Fraud: Insurance Agent Could Get 100 Years Behind Bars for Using Fraudulent Annuities to Bilk Elderly Seniors of Over $5M

A 76-year-old Amarillo insurance agent has pleaded guilty to 15 counts ofTexas securities fraudover the sale of bogus investments and unregistered securities that resulted in over $5 million in losses for primarily elderly investors. The Texas State Securities Board won’t sentence John F. Langford until next month, but he faces up to 100 years in prison for running thisPonzi scam。

同时，兰福德的业务伙伴吉米·唐·金（Jimmy Don King）被起诉10项犯罪罪名，包括尽管没有许可证，出售证券，出售未注册的证券，并充当代理/经销商，但没有适当的注册。bob200体育金是Langford＆Associates在电视上广告的声音和面孔，并保证“不要让您贫穷”。（兰福德还作为兰福德资助和兰福德投资开展业务。）

两人在一名老年妇女起诉她们证券欺诈之后，受到怀疑。bob200体育她说，他们说服她投资941,756美元的私人年金。Later, a court found that the woman who suffered from dementia had been incompetent and therefore wasn’t fit to make a decision about whether investing in bogus annuities that weren’t going to be due until her 90’s-a decade from when she signed on-was a good decision to make.

Many investors gave Langford their life savings in exchange for the promise of windfalls over several years. While private annuities were supposed to pay out up to 8%, promissory notes were supposed to pay out 9%. Langford paid King 5% of the investments. Investors’ money were used to pay for principal payments to prior investors, interest, as well as Langford’s personal expenses.

根据从办公室没收的州文件，这家保险公司的现金流量为负。在2005年至2007年之间，兰福德的房地产业务从未赚取10,000美元。文件显示，他欠投资者超过100万美元。

由于兰福德两年前申请了第7章破产保护，因此许多投资者不得不在破产法院提出索赔。声称总共约有700万美元。

针对老年人的投资欺诈
不幸的是，那里有专业人士决心为自己的救生储蓄折腾投资者。老年人可能没有像年轻投资者那样机敏或知情的老年人，是希望快速赚钱的金融诈骗者的主要目标，而无需考虑受害者的影响。

根据美国退休人员协会的说法，50岁以上的人是经济滥用的简单目标，因为他们：

• Expect that they will be dealt with honestly • Are less likely to act when defrauded • Are not as familiar with their rights in regard to the marketplace • May have certain health issues, such as Alzheimer’s and Dementia that can allow them to be more easily duped than other people
我们的Texas stockbroker fraud lawyers已经看到了可能对看着退休金消失的老年投资者的生活所造成的破坏，因为他们信任故意骗取他们的人。可能有一种方法可以弥补您的投资损失。

相关的网络资源：
保险代理人因出售假冒年金而面临99年监禁，，，，Investment News, July 29, 2011
Langford signs confessions in fraud cases，，，，Amarillo Globe-News, July 26, 2011
虐待老人：针对老年人的财务骗局
Fraud Target: Senior Citizens，，，，FBI
For Seniors，秒
American Association of Retired Persons (AARP)

更多博客文章：
被指控的德克萨斯庞司骗子可能欺骗了200万美元的投资者，，，，Stockbroker Fraud Blog, August 3, 2011
Basketball Benefactor Accused of Texas Securities Fraud and Ponzi Scam that Targeted High-Profile Coaches Found Dead，，，，Stockbroker Fraud Blog, July 19, 2011
Madoff受托人对纽约SAFRA国家银行bob200体育提起证券诉讼，试图为Ponzi Scam投资者收回近1.117亿美元，机构投资者证券欺诈，2011年5月12日