Representative Case Results
Furgison Law Group has obtained substantial recoveries for individual and institutional investors through arbitration awards, court litigation, and confidential settlements. The following representative outcomes reflect the types of cases we handle and the results we have achieved for specific clients in specific circumstances.
*Please read the important notice about these results below.
Arbitration Awards
McKinnon v. CMAM, Inc. dba Heritage Financial Services
JAMS Arbitration · Financial Elder Abuse
Total Award: $8,487,736.66
A senior citizen claimant — a recently widowed retiree with limited English language skills and no prior investment experience — was visited at home by her longtime insurance agent, who solicited her to liquidate her retirement assets to fund the "IRA Reboot," a predatory scheme combining unregistered Future Income Payments (FIP) lending with a high-commission indexed universal life insurance policy. Because of her health, she received substandard insurance terms that were never disclosed to her, and lost coverage that was better than what she already had. The arbitrator found pressure sales tactics, duress, and undue influence; violations of the Elder Abuse and Dependent Adult Civil Protection Act (Welf. & Inst. Code §15600 et seq.); breach of fiduciary duty; and professional negligence. The award broke down to $579,561 in economic damages, $759,200 in emotional distress damages, $4,604,283 in treble damages under Civil Code §3345, $987,000 in punitive damages, attorneys' fees with a 1.5 multiplier, costs, and pre-judgment interest (2021).
Rodillas v. CMAM, Inc. dba Heritage Financial Services
JAMS Arbitration · Financial Elder Abuse
Total Award: $3,626,281.21
A second senior citizen claimant solicited in her home by the same insurance agency to participate in the same "IRA Reboot" scheme, with separate liability findings tied to her individual circumstances. The arbitrator again found pressure sales tactics, duress, and undue influence; financial elder abuse under Welf. & Inst. Code §15610.30; breach of fiduciary duty; and professional negligence. The award broke down to $136,695 in economic damages, $450,000 in emotional distress damages, $1,856,724 in treble damages, $485,000 in punitive damages, attorneys' fees with a 1.5 multiplier, costs, and pre-judgment interest (2021).
Estate of Lenvin v. Royal Alliance Associates, Inc.
FINRA Securities Arbitration · Variable Universal Life Policy Misconduct
Total Award: $884,222.55
The Lenvin family had funded a Variable Universal Life insurance policy for fourteen years until it became self-sustaining, with a $1 million guaranteed death benefit for their two children. After taking over the account, two Royal Alliance brokers — neither of whom had read the full policy contract — advised Mr. Lenvin to surrender the policy and replace it with a new one on which they would earn a commission. After Mr. Lenvin's death, his adult children pursued the claim. A Los Angeles FINRA arbitration panel found Royal Alliance liable for breach of fiduciary duty and misrepresentations and omissions of material facts. The panel awarded the full $870,000 death benefit plus $14,222.55 in costs, and ordered Royal Alliance to pay 100% of the arbitration forum fees (2015).
Selected Confidential Settlements
In addition to the awards described above, Furgison Law Group has obtained substantial recoveries through confidential settlements. Representative examples, ordered by recovery amount:
Investment Advisory Portfolio Mismanagement
$4,500,000 Settlement
Settlement on behalf of individual investors against a registered investment advisory firm, alleging breach of fiduciary duty, professional negligence, and statutory securities violations arising from the firm's failure to follow the clients' stated risk-management goals — including a written commitment to deleverage a highly margined portfolio — and the firm's use of excessive leverage despite the clients' repeated requests to reduce it (2023).
Life Insurance Industry Elder Financial Abuse
$3,000,000 Settlement
Multi-million-dollar confidential settlement on behalf of a California senior citizen against a major life insurance company, alleging elder financial abuse under Welf. & Inst. Code §15600 et seq., breach of fiduciary duty, and professional negligence in connection with the recommendation of an unsuitable indexed universal life insurance policy funded through an unregistered structured cash flow program (2023).
Broker-Dealer Custodial Misconduct (Ponzi-Scheme Enablement)
$2,700,000 Settlement
Multi-million-dollar confidential settlement on behalf of an elderly retired couple against a large online broker-dealer, alleging aiding and abetting fraud, aiding and abetting breach of fiduciary duty, professional negligence, breach of fiduciary duty, California financial elder abuse, and securities law violations arising from the firm's role as custodian of an unregistered investment fund used to perpetrate a Ponzi scheme against the clients (2021).
Insurance Industry Financial Elder Abuse
$1,950,000 Settlement
Multi-million-dollar confidential settlement on behalf of a senior citizen claimant against a major life insurance company in connection with the recommendation of an unsuitable indexed universal life insurance policy funded through an unregistered structured cash flow program (2023).
Variable Annuity and Life Insurance Misrepresentation
$1,000,000+ Settlement
Settlement on behalf of a high-net-worth investor against a major broker-dealer and its insurance affiliate, alleging misrepresentation, unsuitability, and breach of fiduciary duty in connection with Indexed Universal Life policies (IULs) , Whole Life policies, Variable Annuities and other investment products (2025).
Wirehouse Broker-Dealer Unsuitable Margin and Short Selling
$950,000 Settlement
Confidential settlement on behalf of an inexperienced retail investor against a major wirehouse broker-dealer, alleging breach of fiduciary duty, failure to supervise, Regulation Best Interest violations, misrepresentation, and unsuitability in connection with the firm's solicitation of speculative short-selling and margin trading in a previously conservative account (2023).
Investment Adviser Financial Elder Abuse (FIP Matter)
$575,000 Settlement
Confidential settlement on behalf of a senior citizen claimant against an investment adviser in connection with the recommendation of an unregistered structured cash flow lending program and related insurance products (2024).
Insurance Professional Liability in Financial Elder Abuse Matter (FIP Matter)
$500,000 Settlement
Confidential settlement on behalf of a senior citizen claimant against an insurance professional in connection with the recommendation of an unsuitable indexed universal life insurance policy funded through an unregistered structured cash flow program (2021).
Insurance Industry Financial Elder Abuse
$381,600 Settlement
Settlement on behalf of a senior citizen claimant against a major life insurance company in connection with the recommendation of an unsuitable indexed universal life insurance policy funded through an unregistered structured cash flow program (2021).
Have You Lost Money to Broker or Insurance Agent Misconduct?
If you believe you have been the victim of stockbroker fraud, investment adviser misconduct, or elder financial abuse, we offer a free, confidential case evaluation. We represent investors on a contingency-fee basis — you pay no attorneys' fees unless we recover money on your behalf.
Call (310) 356-6890 or Request a Free Case Evaluation.
About These Results — Important Notice*
The case results described on this page reflect specific outcomes obtained for specific clients in specific circumstances. Each case turns on its own facts, the applicable law, the conduct of the parties, the strength of the evidence, the forum, and many other variables. Different facts will produce different results. Past results do not predict, guarantee, or warrant the outcome of any future matter, and Furgison Law Group, PC makes no promise or representation that any prospective client will obtain a comparable result. Recoveries described are reported gross of attorneys' fees and costs; the net amount paid to a client depends on the engagement agreement and case expenses. This page is attorney advertising. Reading it does not create an attorney-client relationship with Furgison Law Group, PC; an attorney-client relationship is formed only through a signed written engagement agreement.