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Virginia AG Files Suit Over Alleged 'Pension Sale' Plan

Law360 (March 7, 2018, 3:52 PM EST) -- Virginia’s attorney general alleged in a lawsuit on Tuesday that about 650 commonwealth consumers have been deceived by an allegedly illegal “pension sale” plan, saying the scheme violated the Virginia Consumer Protection Act.

Attorney General Mark R. Herring filed a suit in the Circuit Court for the City of Hampton against Future Income Payments LLC, saying the company went after Virginia residents by concealing loans as sales, which were meant to provide a quick cash lump sum. The company billed itself as a buyer instead of...
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