Thursday, October 15, 2009
Ohio: High court fines companies $6M for alleged annuity scheme
The Ohio Supreme Court is making two out-of-state companies pay more than $6 million in fines, saying the firms preyed on thousands of elderly Ohioans in dispensing unauthorized legal advice and selling unnecessary annuities and other estate-planning products.
The state’s high court in a unanimous decision levied a $6.39 million fine on American Family Prepaid Legal Corp., Heritage Marketing and Insurance Services Inc. and co-owners Jeffrey and Stanley Norman. The fine stems from an estimated 3,800 instances of unauthorized law practice through a so-called “trust mill” the companies’ agents operated from 2003 to 2005...
BizJournals: High court fines companies $6M for alleged annuity scheme
The state’s high court in a unanimous decision levied a $6.39 million fine on American Family Prepaid Legal Corp., Heritage Marketing and Insurance Services Inc. and co-owners Jeffrey and Stanley Norman. The fine stems from an estimated 3,800 instances of unauthorized law practice through a so-called “trust mill” the companies’ agents operated from 2003 to 2005...
BizJournals: High court fines companies $6M for alleged annuity scheme
Permalink posted by markw @ 4:49 AM 
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