VEBA lawsuits audits get your money back Published on Published onJanuary 19, 2018 Edit article View stats Lance Wallach Lance Wallach Abusive tax shelters, 419, section 79, 412i micro captive insurance, VEBA, expert witness, author, speaker 750 articles Unlike 1 Comment 0
John Hancock Life Insurance Co. of New York and Nationwide Life Insurance Co. are in the crosshairs of a pair of lawsuits challenging their involvement with a disbarred attorney who mishandled millions of dollars of employer-sponsored cash value life insurance policies ( Hausknecht v. John Hancock Life Ins. Co. of N.Y. , E.D. Pa., No. 2:17-cv-03911, complaint filed 8/31/17 ; Corman v. Nationwide Life Ins. Co. , E.D. Pa., No. 2:17-cv-03912, complaint filed 8/31/17 ).
At issue in the case is the multiple-employer welfare arrangement designed and created by disbarred attorney John Koresko and his entities—commercially known as REAL VEBA. The arrangement drew multiple lawsuits by the Labor Department and participants who suffered losses due to Koresko’s mishandling of several aspects of the REAL VEBA.
John Hancock and Nationwide are accused of selling their life insurance products through the arrangement and encouraging their agents to recommend it despite allegedly knowing that its nature was misrepresented, according to two separate lawsuits filed Aug. 31 in federal court in Pennsylvania. The insurers also allowed Koresko to convert plan assets b
VEBA lawsuits audits get your money back
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Lance Wallach
Lance Wallach
Abusive tax shelters, 419, section 79, 412i micro captive insurance, VEBA, expert witness, author, speaker
750 articles
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John Hancock Life Insurance Co. of New York and Nationwide Life Insurance Co. are in the crosshairs of a pair of lawsuits challenging their involvement with a disbarred attorney who mishandled millions of dollars of employer-sponsored cash value life insurance policies ( Hausknecht v. John Hancock Life Ins. Co. of N.Y. , E.D. Pa., No. 2:17-cv-03911, complaint filed 8/31/17 ; Corman v. Nationwide Life Ins. Co. , E.D. Pa., No. 2:17-cv-03912, complaint filed 8/31/17 ).
At issue in the case is the multiple-employer welfare arrangement designed and created by disbarred attorney John Koresko and his entities—commercially known as REAL VEBA. The arrangement drew multiple lawsuits by the Labor Department and participants who suffered losses due to Koresko’s mishandling of several aspects of the REAL VEBA.
John Hancock and Nationwide are accused of selling their life insurance products through the arrangement and encouraging their agents to recommend it despite allegedly knowing that its nature was misrepresented, according to two separate lawsuits filed Aug. 31 in federal court in Pennsylvania. The insurers also allowed Koresko to convert plan assets b