10% Penalty on Annuity

[Julieolo]

I'd still send a complaint to FINRA: Have a Problem? | FINRA.org

Firms are truly afraid of FINRA.

I do plan on writing to them. Are they truly afraid of them? I thought I sent my complaint in and it would go on his record for the public to see. Is there more to it?

 

[DHK]

Did he falsify that information? Falsification equals fraud.

This guy got into some SERIOUS trouble last month for falsifying information on annuity applications. Even the insurance companies refunded premiums when they figured it out:
Orange County agent arrested in $1.6 million fraud scheme targeting elderly


Regarding FINRA, yes, firms are really afraid of them. I'd go through them and tell them everything.

 

[Julieolo]

I dont think it's considered falsification if he did not tell me and it is in the policy. All he has to say is that he told me.

I am not able to get them to send me the documentation that he submitted so I don't know what is on the cover letter. I might might be able to get them to send it to me if I send them a certified letter requesting the documentation.

 

[Julieolo]

I believe the Ca. Dept. of Ins did ask for the documentation so I might be able to get a copy from them

 

[Julieolo]

I think I found what I need!

As I read through the email that they sent me today, they also included a copy of the paper work I already had but there are a few sheets that I do not have. One of them says "Client Profile". He has my annual household pre-tax income inflated by 5x more then I actually make. He also has me marked down as having investments in CDs which is not true.

Who should I point out this information to, AIG? Ca. Dept. of Ins, FINRA, or a lawyer?

 

[DHK]

All 4... and include the link I posted above as an example of this falsification as FRAUD and that they need to make this right... or you'll sue for your money and possible damages.

 

[pfg1]

I think I found what I need!

He has my annual household pre-tax income inflated by 5x more then I actually make.

There it is. I know some carriers if the income is over $xxx, things change alot as far as suitability goes.

 

[Julieolo]

There is a lot of information in the Client Profile Sheet that is falsified.

I have talked to a couple of lawyers but have not retained one yet. I want to be very careful here as I do not want to get myself until another bad situation by hiring the wrong attorney.

Can anyone suggest the type of lawyer I should be talking to?

Thanks

 

[DHK]

Securities or Insurance Fraud.

 

[VolAgent]

There is a lot of information in the Client Profile Sheet that is falsified.

I have talked to a couple of lawyers but have not retained one yet. I want to be very careful here as I do not want to get myself until another bad situation by hiring the wrong attorney.

Can anyone suggest the type of lawyer I should be talking to?

Thanks

It is still going to be your word against his. He's going to say that is what you told him. And if he is smart he will have notes in his file to support that claim.

Now, I'm not saying this to to say you are wrong or to stop you, but simply to prepare you. Hopefully your attorney will let you know the same. And an attorney will have a much better idea of the merits of your case and the likelihood of success.