In 2016, a Los Angeles Superior Court jury awarded $15.6 million to a grandmother who lost her life savings in a bogus investment fund that was offered by a MetLife insurance agent. After an eight-week trial, the jury unanimously found that MetLife and two of its subsidiaries, New England Life Insurance Co. and New England Securities, and a former managing partner, Tony Russon, were liable on four civil counts including aiding and abetting violation of California securities laws, negligence, and aiding and abetting deceit and financial elder abuse. Christine Ramirez was represented by Richard E. Donahoo of Donahoo & Associates PC, who was co-lead counsel with Thomas Foley, a founding partner in Foley Bezek Behle & Curtis LLP.
Donahoo Client Says Justice Done in Financial Fraud Case (Fox 11 News Video)
Foley Bezek, Donahoo attorneys win $15.6 million for first of 98 clients in MetLife fraudulent securities case
MetLife Owes for Agents’ Role in Ponzi Scam, Jury Told
MetLife, Corporate Liability and Ponzi Schemes
Santa Barbara Attorney Wins $15.6 Million from MetLife, Santa Barbara Independent, September 12, 2016.
California Granny Who Lost Life Savings Awarded $15M in Case Against Insurers, Insurance Journal, September 2, 2016.
Years after falling victim to a Ponzi scheme, Simi Valley retiree wins $15.6-million judgment, Los Angeles Times, September 1, 2016.
Simi Valley Ponzi scheme victim awarded $15M, MetLife held responsible, Los Angeles Business Journal, Sept. 1, 2016.
Unanimous verdict sides with plaintiff in suit against MetLife, awards $15.6 million, Northern California Record, September 1, 2016.
BREAKING: Jury Slams MetLife with $15M Punitive Verdict Over Elderly Investor’s Losses in Ponzi Scheme, CVN, September 1, 2016.
Retiree Awarded $15.6 Million in Reported Ponzi Scheme Tied to MetLife, New York Times, September 1, 2016.
MetLife, Units Hit With $15M in Punitives for Ponzi Scheme, Law360, August 31, 2016.
Simi Valley woman awarded $15.4 million after investing in Ponzi scheme pushed by insurance salesman, Los Angeles Times, August 31, 2016.
Grandma Who Lost Savings Wins $15 Million in Case Against Insurers, Time.com, August 31, 2016.
Ponzi Scheme Verdict, Foxla.com, August 31, 2016.
MetLife Owes for Agents’ Role in $216M Ponzi Scam, Jury Told, Law360, July 20, 2016.
Harthshorne, et al. v. MetLife Inc., et al. Video of a portion of opening arguments case against MetLife, CVN, July 20, 2016.
Attorneys make final arguments in MetLife lawsuit, Northern California Record, August 28, 2016.
MetLife Suit Raises Questions of Extent of Corporate Liability, New York Times, May 30, 2016.
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