Annuity

FAQ’s Annuities – South Florida Fixed and Variable – Deferred and Immediate Annuity Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: November 10, 2013 | By Russell L. Forkey, P.A.

Florida Fixed and Variable – Deferred and Immediate Annuity – Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney:

FAQ’s About Annuities:

An annuity is a contract or agreement with an insurance or investment company that provides a source of income or series of payments, from the investment either now or at a set future date, such as retirement. There are two basic types of annuities, deferred and immediate. Deferred annuities allow assets to grow tax-deferred over time before being converted to payments to the annuitant. Immediate annuities allow payments to begin within a year of purchase.

Charlotte Bredal Oliver – Florida Variable and Fixed Annuity, Life and Health Insurance Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: October 27, 2013 | By Russell L. Forkey, P.A.

Florida Variable and Fixed Annuity, Life and Health Insurance Fraud and Misrepresentation Attorney:

In the Matter of: Charlotte Bredal Oliver, Case No.: 140535-13-AG:

On September 20, 2013, the Florida Department of Financial Services (“Department”) issued a Consent Order against Charlotte Bredal Oliver, which, in part, required the Respondent to surrender to the Department all licenses issued to the Respondent pursuant to the Florida Insurance Code.

Matthew Watson Shaw Consent Order – South Florida Insurance and Variable Annuity Consumer Advocate Litigation and Arbitration Attorney

Published on: October 26, 2013 | By Russell L. Forkey, P.A.

Variable Annuity Misrepresentation – Florida Litigation and Arbitration Attorney:

In the Matter of: Matthew Watson Shaw, Administrative Case No: 139968-13-AG:

On September 4, 2013, the Florida Department of Financial Services entered a Consent Order against Matthew Watson Shaw, which was based upon a Settlement Agreement for Consent Order dated August 9, 2013. In the Consent Order, the Respondent’s licensure and eligibility for licensure as an insurance agent within the State of Florida was surrendered to the Department.

Fixed-Income Investment – Florida Fixed-Income Abuse FINRA Arbitration and Litigation Attorney

Published on: May 15, 2013 | By Russell L. Forkey, P.A.

Fixed-Income Abuse, Fraud and Misrepresentation, Florida FINRA Arbitration and Litigation Attorney:

A fixed-income investment refers to a security or other type of investment that pays a fixed return. Types of investments that generally fall within this category are government, corporate, or municipal bonds, which pay a fixed rate of interest until maturity, and to preferred stock, paying a fixed dividend. Such investments are advantageous in times of low inflation but do not protect holders against erosion of buying power in a time of rising inflation, since the bondholder or preferred shareholder gets the same amount in interest or dividends, even though consumer goods cost more.

Fixed-income investments can also be adversely effected by rising interest rates and the credit-worthiness of the issuing authority. For example, as interest rates rise, the market value of the fixed income investment can decline as investors move to alternative and more attractive investments.

Edward Antonio Salazar aka Ted Salazar – South Florida Bonded Life Settlement Misrepresentation and Mismanagement FINRA Arbitration and Litigation Attorney

Published on: February 26, 2013 | By Russell L. Forkey, P.A.

Edward Antonio Salazar aka Ted Salazar – Registered Representative, Houston, Texas:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

Charitable Gift Annuity Florida Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: February 4, 2013 | By Russell L. Forkey, P.A.

SEC Charges Husband and Wife in Florida with Defrauding Seniors Investing in Purported Charity

The Securities and Exchange Commission recently charged a husband and wife who raised millions of dollars selling investments for a purported charitable organization in Tallahassee, Fla., while defrauding senior citizens and significantly exaggerating the amount of contributions actually made to charity.

The SEC alleges that after Richard K. Olive and Susan L. Olive were hired at We The People Inc., the organization obtained $75 million from more than 400 investors in Florida, Colorado, and Texas among more than 30 states across the country by selling an investment product they described as a charitable gift annuity (CGA). However, the CGAs issued by We The People differed in several ways from CGAs issued legitimately, namely that they were issued primarily to benefit the Olives and other third-party promoters and consultants. Only a small amount of the money raised was actually directed to charitable services. Meanwhile the Olives received more than $1.1 million in salary and commissions, and they also siphoned away investor funds for their personal use.

Brett Henderson – Florida Variable Annuity Switch and Surrender Mismanagement FINRA Arbitration and Litigation Attorney

Published on: January 27, 2013 | By Russell L. Forkey, P.A.

Brett Henderson – Registered Representative, North Salt Lake City, Utah:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

Kenneth Richard Doctor – Florida Variable Annuity or Fixed Income Annuity Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: January 21, 2013 | By Russell L. Forkey, P.A.

Kenneth Richard Doctor – Registered Representative, Muskegon, Michigan:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

MassMutual – South Florida Annuity and Insurance Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: November 17, 2012 | By Russell L. Forkey, P.A.

MassMutual to Pay $1.625 Million after SEC Investigation Highlights Prior Insufficient Disclosures about Annuity Product

MassMutual Changes Product Before Any Investors Harmed

The Securities and Exchange Commission recently charged Massachusetts Mutual Life Insurance Company with securities law violations for failing to sufficiently disclose the potential negative impact of a “cap” it placed on a complex investment product that investors were planning to use for retirement.

Elder and Senior Investor Alert: Free Meal Seminars – Broker/Dealer Fraud, Mismanagement and Negligent Supervision Florida FINRA Arbitration and Litigation Attorney

Published on: December 18, 2010 | By Russell L. Forkey, P.A.

Elder and Senior Investor Alert: Free Meal Seminars – Broker/Dealer Fraud, Mismanagement and Negligent Supervision Florida FINRA Arbitration and Litigation Attorney

Free Lunch Seminars, Misleading Professional “Senior Specialist” Designations and Abuse Sales Practices:

State securities regulators warn senior investors to be aware that a combination of “free lunch” seminars, misleading professional “senior specialist” designations, and abusive sales practices can create a perfect storm for investment fraud. Remember: there’s no such thing as a free lunch.