Bloomberg Law
Aug. 23, 2018, 7:34 PMUpdated: Aug. 23, 2018, 8:51 PM

Financial Planners Pushed Pension Investment Scams, Suits Claim (1)

Alex Ebert
Alex Ebert
Staff Correspondent

Attorneys for investors of defunct pension-buyout investments are suing to drag back more than $100 million in lost cash from the financial professionals that sold the plans.

Peiffer Wolf Carr & Kane announced Aug. 23 five suits filed across the country claiming financial advisers, brokers, and insurance agents violated their duty to protect investors by pushing Future Income Payments LLC packages without looking into the legality or legitimacy of the investments.

“There were more red flags than a matador’s closet,” Joseph Peiffer, attorney and managing shareholder, said in a Aug. 23 conference call on the suits. He said his firm ...

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