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Insurance agents busted for 403(b) fraud | Ary Rosenbaum

Non-ERISA 403(b) plans are still one of the stains of the retirement plan business because, without that ERISA protection, it puts participants at risk for high fees and fraud.

More Felony Charges For California Agents In Alleged $10M Securities Fraud

More Felony Charges For California Agents In Alleged $10M Securities Fraud
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Two dozen more fraud charges filed against Newport Beach insurance agent

Two dozen more fraud charges filed against Newport Beach insurance agent Pictured, from left, is Charles Albert Major, 72, of Irvine and Robert Andrew Lotter, 63, of Newport Beach. (Courtesy of the Orange County district attorney’s office) By Lilly NguyenStaff Writer  Print The California Department of Insurance announced Monday that additional charges were filed against a Newport Beach insurance executive alleged to have defrauded more than 40 people. In November last year, Robert Andrew Lotter, 64, was arrested with his co-defendant, Charles Albert Major, 72, of Irvine. Court records indicate that Lotter and Major have denied dozens of felony charges against them that include untrue statements or omission in connection with purchase or sale; use of a device, scheme or artifice to defraud; and burglary.

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