MetLife Ponzi Scheme

Donahoo & Associates, PC secures major verdict for victim of PONZI scheme

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.

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Santa Barbara Attorney Wins $15.6 Million from MetLifeSanta Barbara Independent, September 12, 2016.

California Granny Who Lost Life Savings Awarded $15M in Case Against InsurersInsurance Journal, September 2, 2016.

Years after falling victim to a Ponzi scheme, Simi Valley retiree wins $15.6-million judgmentLos Angeles Times, September 1, 2016.

Simi Valley Ponzi scheme victim awarded $15M, MetLife held responsibleLos Angeles Business Journal, Sept. 1, 2016.

Unanimous verdict sides with plaintiff in suit against MetLife, awards $15.6 millionNorthern 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 MetLifeNew York Times, September 1, 2016.

MetLife, Units Hit With $15M in Punitives for Ponzi SchemeLaw360, August 31, 2016.

Simi Valley woman awarded $15.4 million after investing in Ponzi scheme pushed by insurance salesmanLos Angeles Times, August 31, 2016.

Grandma Who Lost Savings Wins $15 Million in Case Against, August 31, 2016.

Ponzi Scheme, August 31, 2016.

MetLife Owes for Agents’ Role in $216M Ponzi Scam, Jury ToldLaw360, July 20, 2016.

Harthshorne, et al. v. MetLife Inc., et al. Video of a portion of opening arguments case against MetLifeCVN, July 20, 2016.

Attorneys make final arguments in MetLife lawsuitNorthern California Record, August 28, 2016.

MetLife Suit Raises Questions of Extent of Corporate LiabilityNew York Times, May 30, 2016.

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