New lawsuit seeks class action for victims of alleged fraudulent IUL sales
July 6, 2022 by John Hilton
A new lawsuit filed last month adds to the legal liability for Minnesota Life Insurance Co. and its partner independent marketing organization caught up in an alleged pension fraud scam.
Shurwest, an Arizona-based IMO, appeared to be on its way to consolidating, negotiating and settling the scores of lawsuits it faces. The IMO filed for Chapter 11 bankruptcy Aug. 31, 2021, all while steadfastly maintaining that company executives knew nothing about a pension fraud scheme adapted to hundreds of indexed universal life sales.