Beware of Ponzi Schemes and Theft of Monies from Individual Retirement Annuities, IRA Accounts and Variable Annuities

Stockbroker Law - Friday, January 07, 2011
Beware of Ponzi Schemes and Theft of Monies from Individual Retirement Annuities, IRA Accounts and Variable Annuities

In the past year we have seen theft and embezzlement schemes whereby monies in IRA retirement accounts have been stolen by financial advisers with the diversion of monies from legitimate financial institutions.  These accounts have been wrongfully transferred from accounts with The Hartford, Nationwide, MetLife, and SunLife America/Sun Life Financial.  In each of these instances, the theft of monies might have been prevented had these firms employed more thorough, operational, compliance, and supervisory procedures designed to detect scams such as this.  If you feel your monies have been stolen in this manner, we offer a free initial consultation to discuss your possible remedies.

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