The husband-and-wife team of Thomas and Susan Cooper, ages 69 and 67, respectively, have hosted several such seminars over the years. Securities regulators in Illinois allege that the couple improperly sold annuities to 15 elderly clients. Last week, testimony concluded in administrative hearings through which the state is seeking to revoke the investment-adviser registrations of the Coopers and their firm.

The Coopers, according to the state's investigation, generated more than $400,000 in commissions in the first half of 2008 by persuading clients to buy fixed indexed annuities. According to the state's investigation, the Coopers' clients incurred more than $125,000 in early-surrender charges when they exchanged out of existing insurance products.

Wall Street Journal, 12-18-2010에 나올 기사를 미리 보고 올립니다. 제목은 When Seniors Scam Seniors 입니다.