Broker Told To Hold Policies Tied To Alleged $28M Fraud

Law360, New York (February 1, 2012, 8:06 PM EST) -- A New York state judge ruled Wednesday that an insurance broker cannot sell or transfer the life insurance policies it holds for a life insurance policy investment firm that are tied to an alleged $28 million fraud by one of the broker's employees.

New York Supreme Court Judge Bernard Fried issued a preliminary injunction at the conclusion of a hearing Wednesday that prevented broker Progressive Capital Solutions LLC and its employee John Puglisi from selling or transferring any life insurance policies that affiliates of investment firm...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.