This is bad for everyone, but especially the elderly. An elaborate business set up to fix and flip houses closed its doors. Now, that may happen here and there and all the time. But, the saddest thing about the whole story is that the investors were elderly citizens. The newspaper reported that Kenneth Plein, a real estate agent (boo!) filed for bankruptcy last month and locked the business doors. No mo' money. So, when the public bankruptcy hearing was held, many people showed up with nervous stomachs. Don't blame them... The people who loaned money to the Plein were often elderly. One 85 year old woman loaned him about $450,000 over the past 15 years, and now says she has nothing. The business ran for about 22 years, but the bottom dropped out somewhere about 3 years ago. The deal wen...
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