Monday, November 19, 2007
FLORIDA COURT HITS MERRILL LYNCH WITH $7.75 MILLION JUDGMENT FOR IMPROPER ANNUITIES SALES
A jury trial in Palm Beach County Florida issued a $7.75 million judgment against Merrill Lynch last month in a case involving the sale of annuities. In 1995, broker Karen McKinley began selling what would eventually total $32 million worth of annuities to well-known builder turned philanthropist, George Rothman. The issue in the case was non-disclosure and fraud.
