Warren Mills should be retired. Instead, the 70-year-old former English second-language teacher works three days a week as a security guard. “That’s really all I can handle at this age.” A victim of investment fraud, his retirement savings are mostly lost – a consequence of handing over his portfolio to an unlicensed adviser about seven years ago. “He [the adviser] used to go on in a long monologue about how much he knew about stocks – and I fell for it.”
While Canadians are increasingly concerned about saving for retirement, investment fraud lurks in the shadows, wreaking havoc on the unsuspecting. And in cases such as Mr. Mills’s, fraud all but destroys their chances of a comfortable retirement.
By Joel Schlesinger
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