With the financial markets recovering from their lows of the 2008-2009 financial crisis, millions of investors have returned to the stock market, entrusting hard-earned monies to stock brokers and financial advisors, only to see the trust abused with the churning of their accounts. Churning involves the repeated purchase and sales of stocks for the sole purpose […]
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Former Hartford Life Insurance Company and Nationwide Life Insurance Company Appointed Agent Matthew Ryan Sentenced to 10 Years in Prison for Securities Fraud Involving Theft from Variable Annuity Contracts
On Wednesday, October 13th, Matthew John Ryan, a former Appointed Agent for The Hartford Life Insurance Company and Nationwide Life Insurance Company, was sentenced to 10 years in prison for his guilty plea relating to the theft of variable annuity contract assets transferred into his control from Hartford and Nationwide variable annuity contracts. Ryan admitted creating […]
Read PostVariable Annuity Contract Theft
In the past several years, a number of criminal, regulatory, and civil claims have been filed by victimized investors, who have had monies and assets fraudulently diverted from their variable annuity contracts. Oftentimes, these variable annuity contracts are held in Individual Retirement Accounts and individual retirement annuity accounts maintained by trusting, unsophisticated investors, who are easily […]
Read PostVariable Annuity – A License to Steal? Unsafe at Any Speed?
In the past several years, we have seen the theft of millions of dollars of contractual benefits, assets, and coverages from variable annuity contracts issued by prominent, multi-billion-dollar financial services and insurance conglomerates, such as The Hartford and Nationwide Life Insurance Company. The scheme of the now-convicted felon and Appointed Agent for Hartford Life Insurance […]
Read PostLottery Winners Beware – The Odds Are Not in Your Favor
Lottery winners are oftentimes the biggest losers when it comes to entrusting their lottery awards to financial advisers. Stories of lottery winners going bankrupt within a matter of years after winning millions are common. Lottery winners are also common victims of unscrupulous financial advisors, securities fraud, and theft-type schemes. The common thread in lottery winner victimization […]
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- Indexed Universal Life Insurance (IUL) Fraud
- Securities Litigation
- Securities Brokerage Mediation
- Transfer on Death (TOD) and Death Beneficiary Accounts and the Perils of DIY Estate Planning
- A Successful Will Contest