Category: Financial Exploitation

ATTORNEY NEWSLETTER The Internal Revenue Service recently released their 2014 annual report to Congress on its whistleblower program. Although awards paid by the IRS whistleblower program decreased in 2014, the agency expects to pay out more in 2015. According to the report, the IRS whistleblower program paid out 101 awards […]

ATTORNEY NEWSLETTER The SEC’s Office of Investor Education and Advocacy recently released an Investor Bulletin about Regulation A, which was recently amended to create a new exemption from registration under the Securities Act. Thanks to Regulation A, companies may offer and sell securities to the public but with more limited […]

ATTORNEY NEWSLETTER Annuities are not always a suitable investment for the elderly, and they should educate themselves in order to avoid making a bad investment. Senior citizens hold two-thirds of the wealth in this country and the elderly population is increasing. As a result, elder financial fraud is growing as […]

ATTORNEY NEWSLETTER The American Association of Retired Persons (AARP) gives tools and advice for people to protect their retired parents against fraud and scammers. The growing elderly population loses billions per year as a result of fraud. Senior citizens are more likely to be defrauded than other age groups. It […]

ATTORNEY NEWSLETTER True Link Financial, a California-based company that provides assistance and tools to seniors and their families to prevent elder abuse, released a 2015 report estimating that financial elder abuse costs senior citizens $36.48 billion per year. The report found that “criminal fraud” such as telephone scams, identity theft, […]

ATTORNEY NEWSLETTER Affinity fraud is a type of investment scam that targets members of certain groups, such as religious or ethnic communities, or the elderly. It usually involves a fake investment, or an investment where the scammer has left out important details. According to San Francisco consumer fraud attorneys, affinity […]

ATTORNEY NEWSLETTER LIMRA Secure Retirement Institute has released its individual annuity company ranking list for 2014, The ranking list reveals some trends, including strong competition among carriers in the fixed annuity sector. According to the data from LIMRA Secure Retirement Institute, Jackson National was the overall winner for combined selling […]

ATTORNEY NEWSLETTER Since the inception of the Securities and Exchange Commission’s whistleblower program when the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law in 2010, the SEC has done what it takes to make the program successful. In addition to awarding payments of over $50 million […]

ATTORNEY NEWSLETTER Indexed universal life (IUL) insurance illustrations often appear compelling, and can outperform traditional universal life (UL) illustrations. However, these illustrations can be misleading and set unrealistic expectations for consumers. It is important that consumers who are considering these policies understand these illustrations in order to make a suitable […]

ATTORNEY NEWSLETTER Apollo Global Management spent millions of dollars to invest in Caesar’s and Harrah’s casinos in 2013 to keep the company afloat, getting the cash from its life insurance division, Athene Life Insurance and Annuity Company. Indirectly, it became Athene Life Insurance and Annuity Company’s investment in the casino […]