Among other complaints, Horowitz and other advisors allegedly stole private information to find terminally ill individuals and falsified forms to get compliance approval needed to complete the sales.
Estimated reading time: 0 minutes, 27 seconds
SEC Cracks Down on Annuity Sales Scam
The Securities and Exchange Commission is taking action against broker Michael A. Horowitz of Los Angeles and a handful of other advisors for an annuity sales scam that focused on selling the insurance products to terminally ill clients with the promise that beneficiaries would benefit from short-term gains. So reports Insurance & Financial Advisor.
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