Scott Kohn & Future Income Payments Allegedly Ran a Huge Private Pension Cash Flow Scam
Scott Kohn allegedly operated a $100 milllion private market pension scam out of a Nevada strip-mall mailbox, according to media reports under review by investor rights attorney Alan Rosca.
Future Income Payments allegedly cost investors from New York, Massachusetts, Iowa, Washington, North Carolina, Colorado, Pennsylvania, and Minnesota over $100 million, the aforementioned reports note.
Future Income Payments reportedly claimed to be the industry leader and an innovator in buying and selling secondary market pension cash flows, often referred to as Structured Cash Flows, the reports state.
Even though state regulators originally took action against Future Income as early as 2014 over the terms on which it was buying pension benefits, the company continued to accept money from investors throughout 2017 and into 2018, reports note.
Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Scott Kohn & Future Income Payments’ alleged private market pension scam. Investors who believe they may have lost money in activity related to Scott Kohn & Future Income Payments’ alleged private market pension scam are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
A Disabled Gulf War Veteran Allegedly Borrowed $2,7000 but was Made to Send $450 a Month from His Benefits for Five Years
For example, a disabled Gulf War veteran allegedly borrowed $2,700 and was made to send $450 a month from his benefits for five years—or a reported total of $27,000, or an annual percentage rate of 200%, according to one example in Minnesota under review by attorney Alan Rosca.
Private-market products such as the ones offered by Future Income, are often sold by financial advisers, and their sellers often target retirees looking to beat the weak returns on bonds and other savings products. In contrast to publicly traded investments, however, there are few rules on how pension advances can be sold or by whom.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Scott Kohn & Future Income Payments’ alleged private market pension scam. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Scott Kohn & Future Income Payments’ alleged private market pension scam may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.