According to the Tampa Bay Times, Plant City financial planner, Paula Albertson, has been accused of stealing thousands from her clients’ retirement funds.
Albertson was arrested and charged with allegedly diverting $166,000 from clients’ life insurance policies. Since her arrest, other clients have reportedly come forward with similar claims.
According to reports, Ms. Albertson was described as “extremely personable,” some of her clients even considered her a friend. Allegedly, Ms. Albertsons advised certain clients to make withdrawals on annuities under the assumption the money would be reinvested in an investment called Security Benefit, which she claimed would yield a greater rate of return. As a result, the clients allegedly incurred substantial penalties in addition to missing funds.
Furthermore, Ms. Albertson is accused of forging client checks and diverting financial statements to her office to conceal her wrongdoing.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
If you have concerns about investment losses and would like to speak to a securities attorney, please call the firm at (312)238-9650. For more information on The White Law Group, visit www.WhiteSecurtiesLaw.com.
The White Law Group, LLC is a national fraud, securities arbitration, investor protection and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.