November 15, 2018 / 10:13 PM / 3 months ago

Nevada firm hit with $52 mln penalties over pension buyouts

Future Income Payments, a Nevada company under scrutiny nationwide for targeting retirees with costly “pension buyouts,” has been ordered to pay more than $52 million in penalties and debt relief to Virginia residents, the state’s attorney general said on Thursday.

The judgment includes nearly $32 million in civil penalties and about $20 million in debt forgiveness for retired veterans and civil servants victimized by the scheme, state Attorney General Mark Herring said in a statement.

To read the full story on WestlawNext Practitioner Insights, click here:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below