Marietta police warn of a new scam targeting the pension and benefits of veterans that also puts their Medicaid eligibility at risk.
The scam bilks veterans out of their money by conning them into transferring their assets into a special trust account before having them wrongfully apply for extra allocations.
Here’s how the scam works:
- People posing as attorneys or financial advisers offer to help the veterans with their pension allocations.
- Then they try to convince the veterans to put their assets into trust accounts or to make investments into certain insurance products.
- The asset reallocation, the veterans are told, allows them to qualify for Aid and Attendance benefits, which are only for veterans who need help with things like getting dressed or eating, or are housebound.
“In reality, this is not true and in fact, will cause the veteran to be ineligible for Medicaid and other health benefits programs,” said Marietta police.
As if that weren’t enough, scammers charge veterans thousands of dollars for the bogus advice along the way.
Police remind veterans that it’s free to apply for benefits, and many organizations will help with the lengthy and complicated paperwork.
And if you do hire a financial adviser, make sure they’re legitimate, police said.
If you feel you have been a victim of this scam please contact the Marietta Police Department Anonymous Tip Line at 770-794-6990, Crime Stoppers at 404-577-TIPS or the Federal Trade Commission at 1-877-FTC-HELP.
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