Date: 09-06-2016

Case Style:

Case Number:

Judge: Not Available

Court: Superior County, Los Angeles County, California

Plaintiff's Attorney:

Richard Donahoo

and

Thomas Foley

Defendant's Attorney: Not Avaiable

Description: Los Angeles, CA - Jury Awards Woman $15.6 Million

Chrisine Ramirez sued Metlife, Inc., New England Securities and New England Life Insurance on corporate negligence and aiding an abetting the violation of California securities laws and aiding and abetting deceit and financial elder abuse claiming that she lost $279,769 as a result of being talked into purchasing high risk notes by a sales representative associated with the defendants. Plaintiff lost all of her her money when notes became worthless. She claimed that the insurance company failed to intervene when salesmen affiliated with Metlife, along with independent contractors approved to sell its products, sold promissory notes with "guaranteed" returns as high as 12%.

The salesman who sold Plaintiff the investment offices in a Metlife Building and carried Metlife business cards. The investments that she bought were sold by Diversified Lending Group, which turned out to be a Ponzi scheme, which was run by Bruce Fred Friedman. When the scheme collapsed, Friedman fled to France, where the was arrested and eventually died in custody.

A receiver for DLG was able to recover some of the money that Plaintiff and many others had invested in the scheme.

The Defendants denied wrongdoing and claimed that they did not have a contractual relationship with the Plaintiff.

Outcome: Plaintiff's verdict for $230,000 in compensatory damages plus $10 million in punitive damages from Metlife, Inc., $2.5 million from New England Securities, $2.5 million from New England Life Insurance Company and $330,000 from a former managing partner.

Plaintiff's Experts:

Defendant's Experts:

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