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.

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