2020 – LC – Ashmore v. Paramount Financial Services Inc – FIP – Doug Andrew

  • re: FIP, Future Income Payments
  • 20-cv-01357
  • 04/08/2020 to 12/08/2023
  • BEATTIE B. ASHMORE, IN HIS CAPACITY AS COURT-APPOINTED RECEIVER FOR SCOTT A. KOHN, FUTURE INCOME PAYMENTS, LLC, JOSEPH P. HIPP, KRAIG S. AIKEN, AND DAVID N. KENNEALLY
  • South Carolina District Court
  • ecf.scd.uscourts.gov/cgi-bin/HistDocQry.pl?110418531781226-L_1_0-1
  • Case Number – Defendants
    • 6:20-cv-1357-BHH – Paramount Financial et al
    • 6:20-cv-1425-BHH – Karl Nelson; Sword and Shield Financial
    • 6:20-cv-1439-BHH – Blair Whiting
    • 6:20-cv-1440-BHH – J. Scott Reynolds; R80 Enterprises
    • 6:20-cv-1442-BHH – Tracy Belliston; Belliston Financial
    • 6:20-cv-1444-BHH – Greg Duckwitz; GDI Financial
    • 6:20-cv-1455-BHH – Jeremy Watson
    • 6:20-cv-1537-BHH – Marcus Maxfield; Sith, Inc.
    • 6:20-cv-1538-BHH – Terrance Seeley
  • 2020 – LC – Ashmore v. Oliver 
    • 6:20-cv-02061-BHH
    • Date filed: 06/01/2020, Date terminated: 01/09/2023
  • Docket – 13p
  • Entry Number 1 – Complaint – 13p 
  • Doc 16 – JOINT DISCOVERY PLAN – 3p
  • Doc 81
    • Doc 81-20 – EXHIBIT S –  2021 0119 – Doug Andrew Deposition Excerpts – 9p
      • <WishList – The Whole Deposition>
    • Doc 81-40 – Exhibit MM- Aaron Andrew Deposition – 110p
    • Doc 81-41 – Exhibit NN – Brochure – 7p
    • Exhibit SS – List of Creditors – 3p
  • Doc 102-5 – Exhibit – 20191223 – Murray v. Paramount – Case No. 190909970 – Complaint – 11p
    • Terry Seeley, “Wealth Architect”, 
    • 11. Live Abundant further asserts in its marketing materials that it is committed to assisting customers in “optimizing [their] assets and redefining [their] retirement…through a unique and transformational eight-step process that optimizes Authentic Wealth.”
    • “Life Insurance Retirement Strategy”
    • 19. Defendants also recommended that Plaintiffs liquidate IRAs, 401ks or take out home equity loans in order to fund these insurance policies. Upon information and belief, Defendants were attempting to determine the existence and whereabouts of Plaintiffs’ inheritance funds.
    • 33. As a result of the advice of Defendants, Plaintiffs used funds from their IRA account in the amount of $384,724 to participate in Defendants’ Life Insurance Retirement Strategy.
    • 34. Due to Defendants’ negligent financial advice, Plaintiffs have suffered emotional stress and loss of financial security due to losing $384,724 of their retirement funds, at a time of retirement age.
  • Doc 102-6 – Exhibit – 2020 0206 – Complaint – Palmer v. Andrew – Case No. 200901026 – 23p
    •  LifePro, LifeMark, Allianz Life Insurance Company of North America
    • It was represented by Defendants that such a plan would provide “tax free guaranteed income for life.” Live Abundant and Andrew, acting as an agent for Allianz, further advised Plaintiffs to fund their life insurance policies using 401k, IRA, pensions, and funding mechanisms administered by third parties that were designed to allow them to fund those policies at a higher target level. This strategy is known as the “Life Insurance Retirement Strategy.”
    • 25. LifePRO Financial Services, Inc. (“LifePRO”) is a corporation organized and existing in good standing under the laws of the State of California, with its principal place of business at 11512 El Camino Real, Suite 100, San Diego, California 92130.
    • 26. LifeMark Partners, Inc. (“LifeMark”) is a corporation organized under the laws of the State of Maryland. Currently, LifeMark is not in good standing with the State of Maryland. Its principal place of business is at 1306 Concourse Drive, Suite 350, Linthicum, Maryland 21090.
  • Doc 113 – 2023 1208 –  Order – 2p