Skip Free Advice
“Seniors should be wary of unsolicited offers of free advice, especially if they are asked to divulge personal financial information, such as listing their income and assets.”
Comment made by Illinois Attorney General Lisa Madigan when she announced her office filed two lawsuits against companies that allegedly used deceptive, unsolicited mailers to target senior citizens. The companies used the mailers to obtain personal financial information to develop sales leads for insurance agents to sell annuities and other insurance products. According to Madigan’s complaint, seniors who respond to these mailings are not told their personal financial information may be used as leads for insurance agents, telemarketers, or others who may later try to persuade them to buy annuities and other insurance products.
Source: Illinois Attorney General’s Office
No Sundae Picnic
“Cherry has not been accused of any wrongdoing. He got the contract because of his qualifications and his six months of work resulted in $260 million in restitution to policy holders.”
Susan Hofer, a spokesperson for the financial and professional regulation Department of the Governor’s office commented on criticism that a prominent Democratic fundraiser for Illinois Gov. Rod Blagojevich was awarded a $900,000 no-bid state contract months after being cut from an investment proposal that has drawn scrutiny from federal investigators, according to a published report. The Blagojevich administration awarded Chicago attorney Myron “Mike” Cherry a contract to represent Illinois in a three-state investigation of insurance brokers in December 2004, the Chicago Sun-Times reported. Cherry’s fees as a special examiner for the Department of Financial and Professional Regulation totaled $900,000, the agency said.
Source: Associated Press
Corruption Denial
“I find it a disgrace anybody would even try to mention … that I brought some corruption here … I have never in my life participated in corruption … I will not tolerate it. I would report my own mother for it.”
Source: Associated Press.
Topics Illinois
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