Securities Fraud Blog | Find out if your broker is liable for your losses

TAG | life settlement fraud

Apr/11

28

INSURANCE FRAUD IN FLORIDA

Comments off · Posted by admin in FINRA

The State of Florida has some of the strictest insurance fraud laws in the country.  Soreide Law Group, PLLC, is currently representing clients who have been defrauded by their insurance agents, financial advisors, and/or stock brokers in insurance transactions involving:
  • Viatical Settlements;
  • Life Settlements; and
  • Stranger Originated Life Insurance or (“STOLI”) transactions.
 
We are now seeing more and more stockbrokers and financial advisors suggesting their clients purchase large universal life insurance policies with the promise of a big profit on resale after the two-year contestability period passes. There is a promise that the profit from the sale would not only cover the premiums, but would put a profit in the insured’s pocket with enough money to purchase another policy, and do it all over again. Unfortunately, these brokers are over promising and grossly over representing the legality and liquidity of the resale of the insurance policy, especially when it was purchased for the sole purpose of reselling. Part of this alleged scam may include falsifying medical records. We have seen many similar violations with respect to life settlements and STOLI transactions.
If you or a family member have become victims of this alleged fraud, contact an insurance fraud attorney for a free consultation on how to recover your investment losses.  To speak with an attorney, call 888-760-6552, or visit www.stockmarketlawsuit.com. 

We stand up and fight for the rights of consumers.

Representing Insurance Fraud Victims in Federal Court, State Court and before the Financial Industry Regulatory Authority (“FINRA”).

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