Got senior citizens?
Elder Abuse, Fraud & Deception was used by this particulcar stockbroker under the premise of a company called Financial West. Broker Jeff Gieseke, who befriended parents in the late nineties, may have targeted other senior citizens in the Los Angeles Area and convinced them to refinance thier homes. The equity from my dad's home was then used in order to open and invest with his company and affiliates in areas of high tech stock and other unsuitable investments.
Along with his high school poker buddies, Mr. Gieseke also sells bogus limited partnerships that are very illiquid and not suitable investments for the aged.
If you or your senior have an account with Financal West Group, you should move your portfolio to another reputable broker dealer immediately. My father lost over sixty thousand dollars due to this man's wreckless handling of my father's estate.
Due to the refinancing of my father's home, his mortgage payment has virtually doubled and has reverted back to pure interest. All for a savings of less than 1% Dad is left with a deficit of over $600 a month on a fixed income and may be forced to sell his house.
Unscrupulous financial advisors are active in recruiting senior citizens that may be on medications and or distracted by giving health care to a spouse such as my mother who recently passed away from a debilitating stroke. All it takes is a few cups of coffee and a couple of corny jokes.
Keep tabs on who comes in contact with your elders. Even if it is uncomfortable to discuss financial affairs with your parents, let them know you are only concerned for their well being and preserevation of their assets. Be sure to Pre-screen financial institutions and brokers with the SEC of NASD. Try to aviod legnthy lawsuits and cheap-suit stockbrokers.
If stories like this gives you acid indegestion and you love and respect your parents who raised us and built this country, than give Jeff Giseke a call or better yet talk to the president and cancel your account.
Ed Price - President
Thomas Kruegar - Compliance [email protected]
Financial West
(805) 497-9222 fax (805) 494-4845
Good Son, Steven
Santa Monica, California
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