Axa to Pay N.Y. Egg Farmers $3.2M in Finra Award

Published by Ignites.com By Jill Gregorie May 3, 2019 — Axa Advisors must pay $3.2 million to elderly egg farmers who claim they were sold unsuitable variable annuities and life insurance policies by a Rochester, N.Y.-based broker between 2011 and 2014, a Finra arbitration panel decided last week. James and Sandra Fitzpatrick filed the claim… Read more »

Victimized Family Egg Farm Awarded Record-Setting $3 Million

Published by New York AG Connection by New York AG Connection 05/03/2019 —   A FINRA arbitration panel has awarded $3.2 million to an Alleghany County egg-farming family swindled in a variable annuity (VA) and life insurance scheme promoted by a former AXA financial advisor who was recently convicted for stealing from another elderly AXA… Read more »

Victimized Family Egg Farm Awarded Record-Setting $3 Million

Published by usagnet by USAgNET 05/03/2019 —   A FINRA arbitration panel has awarded $3.2 million to an Alleghany County egg-farming family swindled in a variable annuity (VA) and life insurance scheme promoted by a former AXA financial advisor who was recently convicted for stealing from another elderly AXA client. The Whitesville, NY, victims were… Read more »

Former employer of convicted broker fined in the past by New York state

Published by ABC 13 WHAM Rochester by Jane Flasch/WHAM Thursday, May 2nd 2019 — Rochester, N.Y. – 13WHAM reported Wednesday about a Rochester investment broker convicted of grand larceny involving one client – and ordered to pay $2.3 million to another. One of the companies that broker worked for has been fined in the past by New… Read more »

Finra fines AXA $600,000 over misclassified bond funds

Published by Investment News By  InvestmentNews May 2, 2019 @ 12:28 pm — Funds sold to 401(k) plans as investment grade actually held lots of junk   The Financial Industry Regulatory Authority Inc. has fined AXA Advisors$600,000 and ordered the firm to pay approximately $172,000 in restitution for distributing materials that “negligently misrepresentated” five bond funds as… Read more »

Elderly upstate farmers collect millions in fraud suit

Published by MyTwinTiers.com Posted: May 02, 2019 10:48 AM EDT Updated: May 02, 2019 10:48 AM EDT — ROCHESTER (WROC) – An egg-farming family in Allegany County is receiving a $3.2 million award after they said they were swindled by an AXA financial broker. According to the lawyers on the case, this is believed to… Read more »

FINRA Arbitration Panel Awards A Record $3M Egg-Farming Family In Annuity Case

Published by InsuranceNewsNet From Business Wire May 1, 2019 — A FINRA arbitration panel has awarded $3.2 million to an Alleghany County egg-farming family swindled in a variable annuity (VA) and life insurance scheme promoted by a former AXA financial advisor who was recently convicted for stealing from another elderly AXA client. The Whitesville, NY, victims were… Read more »

Record Upstate Securities Settlement Reached

Published by Spectrum News By Jim Aroune PUBLISHED 5:46 PM ET MAY. 01, 2019 UPDATED 9:11 AM ET MAY. 02, 2019 —   A financial advisor fraud has led to the single largest securities settlement in Upstate New York. Counsel for two of the victims believes it may be the tip of the iceberg. Shirley Kerwin… Read more »