24/06/2017 11:13 AM AEST | Updated 24/06/2017 1:15 PM AEST

Retirement Group Aveo Allegedly Exploiting Elderly Aussies: Report

Dodgy business practices alleged at Aveo.

Fairfax Media
Aveo has 13,000 residents across Australia.

Massive retirement village company Aveo has been accused of price gouging and unconscionable business practices.

A joint ABC and Fairfax Media investigation alleges that residents are being caught up in complex contracts and impacted by exorbitant fees.

Worrying issues at the company reportedly also include misleading marketing and safety issues.

The in-depth report is said to include accounts from former residents, lawyers, former Aveo staff and lobby groups uncovering "several alarming business practices at Aveo".

The joint investigation examined a number of Aveo contracts, with the Consumer Action Law Centre describing them as dense, hard to understand and legalistic.

Aveo has 13,000 residents across Australia and plans further expansion in coming years.