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Desert Sun Highlights William Shernoff Victory
The Desert Sun has been covering an insurance bad faith lawsuit filed by William Shernoff that also involved allegations of financial elder abuse because the plaintiff was in her 90’s when the scam occurred.
The case, Lois Brown v. Elco alleged that Lois Brown was the victim of a scam that took all her IRA savings ($161,000) from her and was converted into an insurance annuity by Elco Life and Annuity Company of Illinois. Lois says she had no idea she was buying an annuity because there was no discussion of annuity when she met with the insurance agent.
According to Mr. Shernoff the settlement amount is confidential but says his client is very pleased with the result because her lawsuit was a factor in stopping the insurance company from continuing to sell these insurance annuities to senior veterans or their widows in the state of California.
The article can be found by clicking here.