412i and 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
Lance Wallach Lance WallachBusiness Owner at National Offices of Lance WallachFollowingThe IRS goes after captive insurance pla
Suit Says Philly Firm Billed Trusts To Rep ScammerBy Dan PackelLaw360, Philadelphia (December 10, 2014, 5:46 PM ET) -- Montgomery McCracken Walker & Rhoads LLP was hit Wednesday in Pennsylvania federal court with a proposed class action brought by benefit plan beneficiaries who say they were defrauded and claim that the firm billed trusts that held plan assets in order to represent an embezzler of funds. The plaintiffs, who include members of two employee benefit plans as well as the plans themselves, say that plan originator John Koresko used assets from the plans for his personal benefits and that the Philadelphia-based firm was aware of his self-dealing when it represented him in a suit brought by the Department of Labor. They said this knowledge did not stop the firm from claiming to represent the trusts and billing them a total of $1.4 million for Koresko’s defense.“MMWR went so far as to advocate Koresko’s frivolous claim to millions more of the trusts’ assets and, still while representing and being paid by the tr
Class Action Filed against CJA and Associates and Fidelity Security LifeHartford, CT: A consumer fraud class action lawsuit has been filed against Chicago-based CJA and Associates and Kansas City, Missouri-based Fidelity Security Life Insurance Company (FSL). The lawsuit alleges that CJA and FSL breached fiduciary duties in duping small business owners into investing millions of dollars of employee retirement benefit money in FSL annuities when up to 95% of the initial money invested was being siphoned off in commissions and fees. The so-called Section 412 (e)(3) plans are under attack from the IRS as illegitimate attempts to avoid federal taxes. The lawsuit alleges that by advising investment in these plans CJA and FSL breached federal laws governing advice given to employee benefit plans.Plaintiffs are represented by Moukawsher & Walsh, LLC. CJA and FSL Breach of Fiduciary Duties Class Action Legal HelpIf you or a loved one has suffered damages in this case, pleas
"Niche" "Bisys" "Veba" "Doug Williams"Published on July 25, 2016Likedmake it through the lean and hard times.