Navigation Links
Allegedly, Fraudulent Marketers Are Joining with Banks to Scam the Elderly; Parker Waichman LLP Investigates a Potential Class Action Lawsuit
Date:6/12/2013

New York, NY (PRWEB) June 12, 2013

National law firm Parker Waichman LLP is investigating a potential class action lawsuit on behalf of consumers – primarily the elderly – who have allegedly been victimized by fraudulent telemarketers in concert with middle men known as payment processors. Also allegedly involved are banks – from giant national operations to smaller regional players – which are charged with helping to facilitate the theft of billions of dollars each year, according to a June 10, 2013, report in The New York Times.

In these schemes, the banks do not generally interact directly with the marketers that are allegedly defrauding the public, according to the Times article. Rather, the banks establish relationships with intermediaries that handle the marketer’s payments – and that also dole out the banks’ fees.

Marketers, typically telemarketers or Internet companies, concoct various kinds of schemes to get banking information from people they have targeted. In one case, a plaintiff involved in a class-action lawsuit said in the complaint that a telemarketer basically tricked him into revealing his bank account information, then yanked nearly $400 out of his account (Reyes v. Zion First National Bank, et al; U.S. District Court, Eastern District of Pennsylvania; case no. 2:2010-cv-00345).

All in all, between 2007 and 2009, tens of thousands of Americans, many of them over age 65, lodged complaints with state attorneys general, banking regulators and the Federal Trade Commission (FTC), requesting refunds for bank charges that they say were unauthorized, the Times reported.

“That’s an awful lot of Americans getting ripped off, and the fact that many of them are senior citizens is appalling,” said Gary Falkowitz, Managing Attorney at Parker Waichman LLP. “That some banks are allegedly involved in this kind of theft against the elderly only adds insult to injury; these are the very institutions many senior citizens turned to in order to invest their life’s earnings, to supplement their social security and pensions.”

The banks allegedly tend to be aware that something is wrong. Based on internal emails and other documents, Zions bankers, for example, recognized something was amiss because an enormous number of customers were disputing payments to some processors, according to the Times report. But the bank allegedly continued handling the transactions, the Times noted. One payment processor executive suggested that the bank was making too much money to turn down the business, the Times reported.

A January 29, 2010 Courthouse News report indicates that the AARP, the National Association of Attorneys General and the FTC estimate that 85 percent of the victims of fraudulent telemarketing are age 65 or older. The New York Times added: “For several reasons — financial worries, age, loneliness — older people are particularly vulnerable to what is known as mass market fraud, deceptive pitches that arrive by telephone, mail and the Internet.”

If you were ever victimized by one of these sham telemarketers that resulted in an unauthorized bank transaction, you may have valuable legal rights. Please fill out our online form or call 1(800)-LAW-INFO (1-800-529-4636) to speak with one of our experienced class action attorneys today.

Contact: Parker Waichman LLP
Gary Falkowitz, Managing Attorney
(800) LAW-INFO
(800) 529-4636
http://www.yourlawyer.com

Read the full story at http://www.prweb.com/releases/fraudulent_marketers/06/prweb10824025.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. American Emu Association Updates Quality Regulations in Response to Fraudulent Oils in Market
2. Fraudulent Data May Have Led to Use of Risky Treatment in ICUs
3. Dynamic Search Established New Community of White Hat Ethical Web Marketers
4. Newly Launched Website GarageQualified.com Offers Innovative Solution to Network Marketers
5. Primary Care Physician Joining Columbus Medical Team
6. Women’s Health Specialist Joining Columbus Medical Team
7. Cenegenics Atlanta Moves to Premier Location, Joining Elite Tenant Roster List
8. Outer Banks' Kitty Dunes Rentals: Gold Sponsors For The 6th Annual First Flight Cruisers Shamrock Car Show And Poker Run in Kill Devil Hills, NC
9. CityRoof Enables User Reviews and Evaluations for Homeless Shelters and Food Banks
10. In financial ecosystems, big banks trample economic habitats and spread fiscal disease
11. Parker Waichman LLP Represents Pennsylvania Man in Lawsuit Alleging Actos Caused his Bladder Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/18/2017)... ... August 18, 2017 , ... ... specialized asset-light logistics provider of complex transport solutions for mission-critical and non-discretionary ... Unitrans International Corporation, a division of Roadrunner Transportation Systems, Inc. (NYSE: RRTS). ...
(Date:8/18/2017)... ... August 18, 2017 , ... ... devices. Through an educational webinar, they will present the line of epMotion automated ... learn how easy you can automate everyday pipetting tasks. , Ideal for scientists ...
(Date:8/18/2017)... Woodlands, TX (PRWEB) , ... August 18, 2017 ... ... protection assistance and financial planning services to communities in east Texas, is launching ... Pediatric Brain Tumor Foundation. , Founded in 1991, the Pediatric Brain Tumor Foundation ...
(Date:8/18/2017)... (PRWEB) , ... August 18, 2017 , ... The Golseth ... in the Dallas/Fort Worth area, is spearheading a regional charity campaign organized to provide ... , In early June of this year, Christina and her children returned from out ...
(Date:8/18/2017)... ... August 18, 2017 , ... Alcovit, a lime-flavored beverage that rids the body ... with its product now available through Jet.com. , After 25 years of development, ... drink is designed to quickly detox the body thereby avoiding alcohol-induced hangovers. Whether you’re ...
Breaking Medicine News(10 mins):
(Date:8/7/2017)...  Endo International plc (NASDAQ: ENDP ) ... all known U.S. mesh product liability claims and that ... remaining U.S. claims at reasonable values. Under the agreements, ... quarter of 2017 and continuing through the fourth quarter ... results, the Company intends to increase its mesh product ...
(Date:8/2/2017)... AROMAS, Calif. , Aug. 2, 2017 /PRNewswire/ ... by Continental Who,s Who as a Pinnacle Lifetime ... currently the Key Account Manager at Turing Pharmaceuticals, ... communications, negotiations, troubleshooting and relationship building.                ... has more than 25 years of experience ...
(Date:8/1/2017)... Aug. 1, 2017   CerSci Therapeutics , a ... Texas , has received notice from the National ... of Health (NIH) that it has been awarded a ... over $650,000 in 2017 with an additional $1,000,000 to ... New Drug application of their lead non-opioid drug candidate ...
Breaking Medicine Technology: