Welfare Benefit Plans and 419 Plans Litigation - 412i, IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
Welfare Benefit Plans and 419 Plans Litigation - 412i, IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
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Home » 2014 » January
Life insurance company, others sued over employee benefit programs
Joel Brakken
Jan. 30, 2014, 10:00am 0 0 0 33
Three people and a company are suing over claims they were recommended unsuitable employee benefit programs.
Stephen McClure, Mark McClure, Carolyn Robinson and International Plastics Inc. filed a lawsuit Nov. 25 in the Cook County Circuit Court against Fidelity Security Life Insurance Co., CJA & Associates Inc., Raymond Ankner, Fifth Third Bank, Jason Freeman and J. Freeman & Associates Inc.
The suit alleges common law fraud, negligence, negligent misrepresentation and unjust enrichment, among other claims.
According to the complaint, the defendants used a pre-packaged program designed and administered to induce the plaintiffs to establish employee benefit programs.
The plaintiffs claim the pre-packaged recommendations promised they would receive tax breaks for their business and secure large retirement benefits for plan participants.
They claim the defendants knew or should have known the investments they recommended were wholly unsuitable and the cost far exceeded any potential benefits.
The plaintiffs are seeking more than $50,000 in damages and are being represented in the case by Anthony R. Rutkowski of Rutkowski Law Group in Chicago.
Cook County Circuit Court Case No. 2013L013514.
This is a report on a civil lawsuit filed at the Cook County Courthouse. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it represents only one side of the story.
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