Arizona Annuities Fraud Targets Seniors
An Arizona estate-planning company has been accused of targeting senior
investors for annuity investments that led to fraud and financial abuse.
National Future Benefits, headed by company president Randall Jaeger,
allegedly used scare-tactics to convince senior investors to pull out
of their existing annuities and buy into new annuities. The company allegedly
did this in order to receive the large commissions for these activities.
Some Arizona seniors lost significant amounts in fees when cashing out their existing annuities, and many will face tax penalties. The company is facing two lawsuits for fraud and illegal activity, and has been the subject of multiple regulatory complaints at the state level in the past. The company also was recently investigated by Adult Protective Services, including an elder-abuse claim.
Many experts say that, although annuities are popular investments, seniors should approach them with care. It's important to understand how annuities work, and what fees and taxes you will be responsible for.
The Arizona investment fraud attorneys with Meyer Wilson represent senior investors who have been taken in by stockbroker misconduct and investment fraud. We represent victims of financial fraud nationwide in stockbroker mediation, arbitration, and litigation.