Ill. Insurance Broker Pleads Not Guilty To Fraud Charges

Law360 (April 22, 2021, 5:18 PM EDT) -- An Illinois insurance broker pled not guilty Thursday to fraud charges for an alleged scheme in which he promised clients he'd purchase annuities for them through various insurance companies but instead pocketed that money for himself.

Daniel Rosenbaum, who owned Alexander & Rosenbaum Financial Group LLC in Kenilworth, Illinois, was arraigned on Thursday before U.S. District Judge Jeffrey T. Gilbert on three counts of wire fraud and two counts of mail fraud.

According to the criminal indictment filed earlier this month, Rosenbaum lied to four unnamed victims for whom he'd promised to purchase insurance annuities, but instead took their money for...

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