Starring Fred Thompson. You remember Fred Thompson, the actor from the show 'Law and Order' and presidential GOP candidate in 2008. Well, now his new role, as Mother Jones reports: Pitchman for a company charged with preying on the elderly on reverse mortgages.
Mother Jones:
This spring, Thompson, a jowly ex-GOP senator from Tennessee, signed on to serve as the national spokesman for American Advisors Group (AAG). In an ad for the company, Thompson stands in front of a charming white house with an American flag flying out front and sings the praises of a lesser-known mortgage product called a reverse mortgage: "Join hundreds of thousands of other Americans who have used a reverse mortgage as a safe, effective financial tool," he implores viewers.
Thompson's new employer, however, has a troubled track record. Regulators in Florida, Illinois, Maryland, Massachusetts, Virginia, and Washington State have cracked down on the firm for deceptive marketing and consumer fraud. In February, for instance, the Illinois attorney general, Lisa Madigan, sued AAG and its president for direct-mail solicitations that Madigan described as "extremely misleading." That same month, the state of Massachusetts temporarily banned the company from doing business in the state.
Read the State of Illinois Attorney General’s complaint against AAG:
People Illinois) v. American Advisors Group Complaint
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