Annuity Investor Fraud Lawyers

Are You A Massachusetts Investor Whose Citizens Securities Financial Advisor Sold You Colorado Bankers Life Insurance Annuities? 

Our Annuity Investor Fraud Lawyers May Be Able To Help

The team of Annuity Investor Fraud Lawyers at Shepherd Smith Edwards and Kantas ( are offering free, initial case consultations to Massachusetts investors who suffered losses in Colorado Bankers Life Insurance annuities. This includes those who were sold their policies by a Citizens Securities financial advisor. Citizens Securities, which is a Citizens Financial Group subsidiary, is now under investigation by Massachusetts Secretary of State William Galvin’s office.

The state probe comes after a retired couple accused their Citizens Securities stockbroker of recommending they invest their $400K savings in a Colorado Bankers Life Insurance annuity. Now, like so many of the other tens of thousands who invested in these financial products, their funds remain frozen.

Colorado Bankers Life Insurance, which is in liquidation, is one of a number of insurers owned by indicted financier Greg Lindberg. The North Carolina billionaire, who is facing retrial after a previous conviction for wire fraud was overturned—he was released from prison last year—is now accused of an $2B fraud involving his insurance companies. Citizens Securities is one of the many broker-dealers that sold annuities from Lindberg-owned entities to their customers.

In a filing last month with the US Securities and Exchange Commission (SEC), the brokerage firm claimed that it conducted the proper due diligence before selling Colorado Bankers Life Insurance fixed annuity products to customers. Citizens Securities contends that after finding out in 2018 that Lindberg was under investigation, it stopped selling the annuities to clients. This is little comfort to investors who have been unable to access their funds.

How Can Our Savvy Massachusetts Annuity Investment Fraud Lawyers Help?



Shepherd Smith Edwards and Kantas has been suing the brokerage firms and investment advisers that sold Lindberg-issued annuities on behalf of investors. This includes most recently, filing a FINRA lawsuit against Citizens Securities for one retiree whose broker allegedly recommended she invest in CB Life Annuity. Now, alleging misrepresentations and omissions, overconcentration, negligence, and other causes of action, she is seeking up to $5M in damages.

If you too are someone whose assets have been frozen in a Colorado Bankers Life Insurance annuity, we can help you explore your legal options.

Many Colorado Bankers Life Insurance annuity investors are retirees and older investors who are seeing their retirement plans turned upside down by these substantial investment losses. While it is positive news that regulators are taking this matter seriously, if you want to maximize your chances for a full financial recovery, as Shepherd Smith Edwards and Kantas Senior Partner and annuity loss attorney Kirk Smith said in a recent WSJ article, you should consider pursuing damages from the broker-dealer that sold you the annuities.

Our trusted investor loss lawyers have filed more than 100 securities lawsuits against the financial firms that sold annuities from Greg Lindberg’s insurance companies. Because of this, we have an in-depth understanding of how misconduct or negligence enabled so many financial advisors to unsuitably market and sell these investments to customers.

When you retain our knowledgeable securities law firm, you will have our entire team of skilled annuity loss attorneys, legal assistants, and consultants working on your case. More than 90% of our clients have received full or partial financial recovery.

How To Contact Us:

Call (800) 259-9010 today or contact us online.


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