Month: March 2018
Intent to defraud investors… Lindenhurst Village Green
Intent to defraud investors… It is common knowledge within the financial industry that Principal Financial Services, Inc., domiciled in the State of Iowa, has systemically defrauded investors during the past twenty years. In collusion with then State of Iowa Insurance Commissioner Therese Vaughan, Principal first stole an estimated $1.5 billion…
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Will your 401(k) Service Provider “slaughter” your retirement?
401k Service Provider and your 401(k) plan… like “Hogs to be slaughtered…” Back in the 1950’s., my dad had a favorite saying… “like hogs to be slaughtered.” He was referring to the passivity of the day, when trust was everywhere, and no-one could do wrong… others that followed a leader…
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“Principal Life Insurance Company owns all plan assets…. “
Principal Life Insurance Company owns all plan assets… Imagine you and your wife had $600,000 in cash in your bedroom closet. This morning, you woke up with a deep concern… what if? You both become concerned. You stuff the money in a bag and haul it down to your local…
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Money Laundering in Commercial Real Estate
The Financial Crimes Enforcement Network has published a comprehensive report on money laundering in the commercial real estate industry. Included in the report are statistics showing that Real Estate Investment Companies dominated the money laundering activities related to commercial real estate, with 30.89% of the occurrences. In several instances, more…
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Commercial real estate fraud and your 401(k)….
Commercial Real Estate fraud…Principal viewed investor’s 401(k) plans as a huge cash cow to be drained as needed to salvage the commercial property industry… Principal executives targeted a specific group of investors. They planned and schemed to steal retirement funds. Principal’s exploits are well documented in financial journals and newsletters, but…
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Fiduciary breach Act in Kentucky a big win for insurance companies…
Fiduciary breach will be a felony…. The State of Kentucky is considering a bill to make an ethical or fiduciary breach by trustees and investment managers a Class D felony, if your plan is a state-administered retirement system. This is a huge decision for state regulators, and a win for…
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Crime and corruption in our federal agencies?
Crime and Corruption in our federal agencies? The evidence is overwhelming… Principal has bilked millions of investors out of their 401(k) savings. Principal affiliates are bedfellows with banks like U.S. Bank and Wells Fargo, both being investigated by federal prosecutors. Yet, The Principal Group of Companies somehow evade scrutiny. Principal…
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Is your 401(k) Separate Account a Legal Entity?
A definition of a legal entity is… “An association, corporation, partnership, proprietorship, trust, or individual that has legal standing in the eyes of law. A legal entity has legal capacity to enter into agreements or contracts, assume obligations, incur and pay debts, sue and be sued in its own right, and to be held responsible for its…