Wachovia sued for elder abuse

An elderly, Mandarin-speaking couple are suing Wachovia Securities in Los Angeles Superior Court of financial elder abuse.  The couple claim Wachovia employee Anita Peterson “virtually wiped out” their account worth more than a $1 million after persuading them to liquidate their certificates of deposit so Peterson could put it into mutual funds “which would then be used as collateral for her to trade in options.” 

The plaintiffs aren’t fluent in English and the husband is 87 and blind while his wife is 74.


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