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CFO Sink's Safeguard Our Seniors Legislation Passes Senate Unanimously

4/16/2010

CONTACT: Kevin Cate (850) 413-2842
 
TALLAHASSEE— Florida CFO Alex Sink’s Safeguard Our Seniors Legislation (SB 844) today was passed unanimously by the Florida Senate.  This is the second year in a row that the Senate has unanimously approved CFO Sink’s proposals to strengthen senior investor fraud laws, yet Representative Pat Patterson continues to refuse to hear the bill in the Florida House.
 
“I commend Florida’s Senators for once again unanimously voting to better protect Florida seniors and thank Senator Bennett for his leadership on this common-sense, bipartisan bill,” said CFO Sink. “Unfortunately in the House, Representative Patterson has continued his two-year crusade blocking senior protections for his special interest friends. His disregard for Florida seniors represents so much of what’s wrong with Tallahassee.”
 
CFO Sink proposed Safeguard Our Seniors legislation again this year to strengthen senior investor fraud laws, after hearing hundred of heartbreaking stories from seniors who had been defrauded by senior scammers, sometimes losing their life-savings. Senator Mike Bennett and Representative Maria Sachs sponsored the 2010 legislation (SB 844/ HB 825) in response to hundreds more complaints received this year from Florida seniors, just about annuity fraud.
 
“Standing up for Florida’s seniors and holding scammers who prey on the elderly accountable is just the right thing to do.  Yet right now, there is a status-quo system in place that protects politicians who take their marching orders from special interests, blocking good ideas and real solutions from ever seeing the light of day. I urge the leadership of the Florida House to take up this important bill and do the right thing for Florida's seniors.”
 
CFO Sink’s Department of Financial Services has held nearly 400 ‘Safeguard Our Seniors’ workshops throughout the state during the last two years to help seniors become better informed about how to protect themselves from financial fraud. The programs have helped Florida seniors recover nearly $9 million, and helped put some senior scammers behind bars.
 
To learn more about CFO Sink’s Safeguard Our Seniors Task Force, learn what to consider when purchasing annuities, or read the stories of senior victims, please visitwww.flseniors.net.  Floridians who believe they may have been the victim of annuity fraud should call (850) 413-3089 or toll-free at 1-877-My-FL-CFO (1-877- 693-5236) or log on to www.MyFloridaCFO.com to file a complaint.
 
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