MetLife Owes for Agents’ Role in Ponzi Scam, Jury Told

Richard E. Donahoo's Finance Legal Blogs

Licensed for 21 years

Attorney in Tustin, CA

Richard E. Donahoo

Serving Tustin, CA

Owner at firm Donahoo & Associates

Serving Tustin, CA

Awards AV Preeminent

Donahoo & Associates, PC began a trial this week against MetLife, Inc. The case involves a defunct real estate fund, Diversified Lending Group, run by Bruce Friedman, that offered a high guaranteed rate of return to its investors. The suit alleges DLG was introduced to the investors by MetLife agents and brokers, who themselves learned of the program in a MetLife company training session.

Open arguments were covered by Law360 on July 20. Read the story “MetLife Owes for Agents’ Role in $216M Ponzi Scam, Jury Told” (subscription required).

For additional background on the case, read the New York Times article “MetLife Suit Raises Questions of Extent of Corporate Liability.”

‹ Blogs Home