Arizona Republic:  Arizona seniors lost millions in annuity fees, lawsuits say.  Hundreds of Arizona senior citizens cashed in their retirement investments and paid millions of dollars in unnecessary fees, according to lawsuits accusing a Scottsdale-based estate-planning company of taking advantage of vulnerable clients.  Federal and state court lawsuits claim officials with National Future Benefits Unlimited generated large commissions by scaring and misleading elderly clients into bailing out of existing annuities and buying new ones. The moves left the clients paying steep surrender fees to insurance companies and facing potential tax liabilities, according to the lawsuits. . .  . In one of the lawsuits, an insurance company is accusing National Future Benefits of systematically targeting clients to cash out their annuities; in the other, an elderly Phoenix couple contend they were defrauded out of most of their assets.  National Future Benefits President Randall Jaeger denies any wrongdoing. . . . In addition to facing the two lawsuits alleging fraud and illegal activity, National Future Benefits has a history of state regulatory complaints and this year was investigated by Arizona Adult Protective Services. The lawsuit involving the elderly couple led to an $866,000 settlement this year and triggered an elder-abuse claim filed with the Arizona Attorney General’s Office.”

Do you think that you were defrauded by National Future Benefits Unlimited?  If so, we may be able to help.  Please contact Norm Keyt at 602-265-0273 or nck@keytlaw.com.