TEXAS INSURANCE AGENT CHARGED WITH SECURITIES
FRAUD.
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A Texas insurance agent has been indicted on federal charges of
mail and securities fraud for allegedly soliciting clients to invest in
annuities he falsely represented as variable annuities issued by CUNA
Mutual Life Insurance Co.
The U.S. Attorney's Office alleges Harold Wayne Griffin, a
CUNA agent, told customers he would use their invested funds to purchase
TTI Annuities - which didn't exist - instead converting the money
to his personal use.
The indictment alleges Griffin's fraud totaled more than $1
million and involved more than a dozen victims.
COPYRIGHT 2004 JR Publishing,
Inc. Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
Copyright 2004, Gale Group. All rights
reserved. Gale Group is a Thomson Corporation Company.
NOTE: All illustrations and photos have been removed from this article.
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