Articles Posted in Annuity Scams

SEC Charges Florida Couple In Charitable-Gift-Annuity Scheme
The Doss Firm

On February 4, 2013, the SEC filed suit against Richard K. Olive and Susan L. Olive in the Southern District of Florida in a charitable-gift-annuity scheme. The Olives allegedly drew $75 million from more than 400 investors in at least 30 states. In March of 2008 the Olives took over the inactive nonprofit, We The People, which…

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Insurance Issuers Make Changes to In-Force Variable Annuity Contracts That Harm Policyholders
The Doss Firm

According to a recent article in InvestmentNews entitled, Back to square one, insurance issuers have started changing the terms to in-force variable annuity (VA) contracts. These changes are detrimental to policyholders because they take away some of the benefits which caused the policyholder to purchase the VA in the first place. For example, according to the…

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