Minnesota charges financial planner with fraud costing investors $200,000

June 22, 2018 by InvestmentNews

Sauk Rapids, Minn., adviser has been charged with securities fraud, insurance fraud and theft in connection with fraudulent insurance and gold bullion transactions that cost investors more than $200,000.

Lisa Marie Schurhammer, a former licensed insurance producer who operated a financial planning business called Retirement America, advised victims to cash out their existing annuities and buy new ones with a different insurance company, the Minnesota Commerce Department said in a release about the case.

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Originally Posted at InvestmentNews on June 21, 2018 by InvestmentNews.