Charles D. Oliver

  • 2013 - LC - In the Matter of CHARLES D. OLIVER, AMERICAN EQUITY ADVISORY GROUP, LLC, and "THE CHUCK OLIVER TEAM," Respondents. In the Matter of STEVEN H. MINNICH, Respondent.
  • 2014 - LC - Washington State - Missed Fortune - Doug Andrew - CFLID
  • 2014 - prlog.org/12341846-charles-oliver-of-hidden-wealth-system-announces-sponsorship-of-nations-coaches-golf-classic.html
  • 2015 - LC - Charles Oliver v. Burgess (CFLID - Center for Life Insurance Disputes) ---  [BonkNote]
    • 6:2015cv00306
    • Florida Middle District Court
    • 02/27/2015 06/04/2015
    • Pacer - Yes
  • 2018 - LC - John Richardson, et. al. v. Charles D. Oliver, et. al
    • Case No. 2018-CA-6721
    • Circuit Court in and for Duval County, Florida on September 28, 2018
  • 2019 - LC - James Hall, et. al. v. Charles D. Oliver, et. al.,
    • Case No. 16-2019-CA-003402-XXXX-MA
    • Circuit Court of the Fourth Judicial Circuit in and for Duval County, Florid
  • 2019 - LC - Gordon R. Edwards vs. Life Insurance Company of the Southwest (LSW) 
  • 2019 - LC - CHERYLL HALL Et Al VS CHARLES D OLIVER Et Al
    • Court - Duval County - Fourth Judicial Circuit Court
    • Courthouse - Duval County Downtown
    • CourthouseCounty, State - Duval, Florida
  • 2013 - LC - Washington - 13-0108
    • insurance.wa.gov/sites/default/files/documents/13-0108-order-terminating.pdf
      • 3. OIC reeeived a complaint from consumer FLR, who alleges that she went to Mr. Minnich in early 2009 seeking financial planning for retirement. She met in person with Mr. Minnich several times. During some of those meetings (there is evidence that it was at least five), they had telephone conference calls or webinars with Mr. Oliver, who was providing back-office support and mentoring to Mr. Minnich about a process called "Missed Fortune" or the "Max Funded" Concept.
      • 4. Mr. Minnich and Mr. Oliver sold FLR one life insurance policy with Life Insurance Company of the Southwest ("LSW") with a death benefit of $1 ,000,000 and subsequently a second policy with OM Financial Life Insurance Company ("OM Financial") with a death benefit of$1,093,027. They also sold her an LSW annuity with a premium of$100,500.
      • (p8) - FINDINGS OF FACT:
        • 3. OIC received a complaint from consumer FLR, who alleges that she went to Mr. Minnich in early 2009 seeking financial planning for retirement. She met in person with Mr. Minnich several times.
          • During some of those meetings (there is evidence that it was at least five), they had telephone conference calls or webinars with Mr. Oliver, who was providing back-office support and mentoring to Mr. Minnich about a process called "Missed Fortume" or the "Max Funded" Concept. 
  • 2014 - LC - Washington - 14-0229
  • insurance.wa.gov/sites/default/files/documents/14-0229-notice-hearing.pdf
    • Charles D. Oliver and American Equity Advisory Group, LLC (collectively, "Oliver") submitted a Demand for Hearing ("Demand"), filed December 3, 2014, requesting removal of a blog post of the Office of Insurance Commissioner's ("OIC") related to an Order to Cease and Desist ("C&D Order") issued against Oliver.
    • Oliver asserts in the Demand: 1) the blog contains false statements; 2) the C&D Order has been superseded by an agreement between Oliver and the OIC, and the blog post contains a dead link to the superseded C&D Order; 3) maintaining the blog is an ultra vires action by the OIC; 4) the C&D Order was false at the time it was issued without an opportunity for prior response or rebuttal; 5) the blog post is causing out-of-state individuals to cease doing business with or refrain from doing business with Oliver; 6) the blog post has been picked up by out-of-state individuals who now rely on it to falsely disparage Oliver, thereby causing business harm; 7) the blog does not serve any legitimate purpose of the state of Washington or its citizens, but instead is being used to further punish Oliver.
  •  - CHARLES OLIVER AND AMERICAN EQUITY'S RESPONSE TO INSURANCE COMMISSIONER'S MOTION TO DISMISS - 37p
    • (p28) - Beware The Hidden Wealth System by Chuck Oliver
      • Is Chuck Oliver misrepresenting the features of life insurance and omitting the costs of policies, to the public, in order to get them lo buy life insurance? The same question can be asked of Patrick Kelly, Doug Andrew, Nelson Nash and Pamela Yellen.
      • It's not surprising Mr. Oliver Lists one of his credentials as a Certified TEAM Member of Douglas Andrew's Missed Fortune. We have been warning people about the dangers and fallacies of the Missed Fortune scheme for years, and have saved many people from losing money in that scheme. Now we have Mr. Oliver and the Hidden Wealth System. The Insurance Commissioner of Washington issued a Cease and Desist against Mr. Oliver, his team, agents, employees and affiliates, on April 4, 2013.
        • To read the details use this link: Cease and Desist against Chuck D. Oliver. Among the near-dozen violations of state law cited by the Commissioner, Mr. Oliver is accused of selllng insurance without a license and making misleading representations of an insurance transaction.  
    • insurance.wa.gov/sites/default/files/documents/14-0229-oic-reply-dismiss.pdf
    • 2015 0304 - Washington Office of Insurance Department - Charles D. Oliver and American Equity Advisory Group, LLC. - Docket No. 14-0229 - Order on Insurance Commissioner's Motion to Dismiss - 7p
      • (p6) - Judge George Finkle (Ret.), Presiding Officer  - 15. Although I recognize that the blog post may be painful for Oliver, the post was not and is not false - the C&D Order was issued and included the allegations set out in the post.
        • The C&D Order was not demonstrated to have been unlawful.
        • The post is not ultra vires or without legitimate purpose (for the reasons discussed in Gold Seal and above -- public awareness of Insurance Code enforcement and showing that the Commissioner is meeting his responsibilities).
        • The possible adverse business impacts of a lawful post (which I assume for purposes of this Order to exist) do not render the post unlawful or require its removal.
      • 16. Further, directed removal of the blog post would undermine the public's interest in free access to accurate information concerning the OIC's actions, including its communications, and would risk compromise of agency transparency as well as public oversight.
  • 2020 - LC - Gary Giordano, et. al. v. Charles D. Oliver, et. al.,
    • Case No. 2020-CA-000548-15-L
    • Circuit Court of the Eighteenth Judicial Circuit in and for Seminole County, Florida
  • 2020 - LC - Markel American Insurance Company v. Oliver, NATIONAL LIFE GROUP (“NLG”)
    • 6:20-cv-01223-RBD-DCI
    • Date filed: 07/09/2020, Date terminated: 02/04/2022
    • Date of last filing: 03/09/2022
    • Document 1 - Complaint -
      • 1. In this action, MAIC seeks a declaration that: (a) it does not owe a duty to defend or indemnify Oliver, HWM or AEAG (collectively referred to as the “Insureds”) in a lawsuit captioned Gary Giordano, et. al. v. Charles D. Oliver, et. al., Case No. 2020-CA-000548-15-L, filed in the Circuit Court of the Eighteenth Judicial Circuit in and for Seminole County, Florida (the “Giordano Lawsuit”);1 and (b) that it does not owe a duty to defend or indemnify Oliver or HWM in a lawsuit captioned James Hall, et. al. v. Charles D. Oliver, et. al., Case No. 16-2019-CA-003402-XXXX-MA, filed in the Circuit Court of the Fourth Judicial Circuit in and for Duval County, Florida (the “Hall Lawsuit”).2
  • 2021 - LC - Alan Mansfield vs Life Insurance Company Of The Southwest, Charles D Oliver As Agent of Hidden Wealth Management LLC
    • Filing Date - 12/13/2021
    • Seminole County - Eighteenth Judicial Circuit Court
    • 2020 - LC - ORIGINAL CASE 2020CA548 
  • Pacer
  • 2020 - LC - Markel American Insurance Company v. Oliver
    • 6:2020cv01223
    • Florida Middle District Court
    • 07/09/2020 - 02/04/2022
  • 2021 - LC - Oliver et al v. Zurich American Insurance Company
    • 6:2021cv00763 
    • Florida Middle District Court -
    • Start  04/29/2021 - End-11/23/2022
    • Court: US District Court for the Middle District of Florida
    • 2022 1122 - LAW360 - Insurance Agent Not Covered For Ponzi Investment Advice, by Elizabeth Daley - [link]
      • The insurer for a life insurance agent doesn't have to defend against underlying accusations that he led clients to invest in a $310 million dollar nationwide Ponzi scheme, because of a...
  • 2022 - LC - re: American Equity Advisory Group, LLC
    • Case No. 22-bk-02889 (Bankr. M.D. Fla., Petition filed Aug. 12, 2022).
    • American Equity sought Chapter 11 bankruptcy protections in August 2022
  • 2023 - LC - Michael Grossman v. Charles Oliver and American Equity Advisory Group, LLC, a Florida limited liability company
    • Case No.: 6:23-cv-1804
    • United States District Court - Middle District of Florida
    • 15. In August 2022, American Equity sought Chapter 11 bankruptcy protections in August 2022. In re: American Equity Advisory Group, LLC, Case No. 22-bk-02889 (Bankr. M.D. Fla., Petition filed Aug. 12, 2022).
    • 16. According to a Case Management Summary filed in that matter, the reason American Equity sought bankruptcy protection was an onslaught of litigation against Mr. Oliver and American Equity stemming from their recommendations that clients invest in Future Income Payments, LLC, another massive Ponzi scheme shut down by the U.S. Department of Justice and the subject of multiple state and federal regulatory actions. Id. (Chapter 11 Case Management Summary, filed Aug. 12, 2022).
  • 2019 - LC - GORDON R EDWARDS vs LIFE INSURANCE COMPANY OF the Southwest - 16-2019-CA-003341
  • 2020 0729 - DEPOSITION OF MICHELE DUNGWORTH, [LSW - Compliance] - TAKEN ON BEHALF OF THE PLAINTIFF - 95p
    • (p20) - Q Okay. By the way, has there been a Florida market conduct examination of Life of Southwest or the National Life Group since you joined the company?
      • A No.
      • Q I didn't think so. I their website is not terrific but I have to ask just to find out. 
    • (p21) - Q Okay. I want to make sure that I understand it. That Life of Southwest did not treat Life insure high premium life insurance policies like these where the idea is to pay policy loans as retirement benefits. Those are not considered to be annuities at Life of Southwest?
      • A No.
    • (p23) - [2014 - Washington - Oliver]
      • Q Was any disciplinary action internally brought against Mr. Oliver after the situation came to light in the State of Washington?
        A I am not aware of anything by the company.
    • (p24) - A I did take a look in the file and unfortunately I don't think the records were as good as I would expect them today. I think the other confusing matter on that particular situation is this to actually- this began -- this investigation began by the state of Washington in 2011 and actually Mr. Oliver was not even named in that initial investigation. It was another agent named Steve Minnich with the complainant. So, I think that was some of the confusion on that.  Everything was posted under Mr. Minnich's name and not Mr. Oliver's name.
      • Q Okay. Did you look at the actual consent order that the Life of Southwest signed?
      • A I actually did not. I do not have a copy of the signed one by LSW.
      • Q Well, let me see if I can help you out.
      • A Okay. That would be fantastic.
    • (p28) - [Sold by vs Commissions Received]
    • (p31) - Q Was he provided with any remedial training?
      • A I cannot tell that by the file either.
    • (p32) - Q Okay. And in that case if we look at Paragraph number 14, Life of Southwest apparently agreed to rescind the policy and refund the insured's premiums with interest, which was done. Is that correct?
      • A Correct.
      • Q Of course that was under the threat of the office of insurance commission in the state of Washington suspending Life of Southwest certificate of authority to do business in that state, right?
      • A I don't know because I'm not aware of this particular item.
    • (p32-33) - Q After Life of Southwest consent order do you know that if it did any internal training with its operational people or the folks that deal with the agency force to make sure we don't have a problem like this again somewhere?
      • A I didn't see anything within the file.
      • Q You're not disagreeing with this that Mr. 6 Oliver did something wrong here, right?
      •  MR. BIARD: Form.
      • A I'm not disagreeing that he did something wrong. I guess I disagree with Washington's findings right now based on what I see.
    • (p3) - Q (By Mr. Liggio) Okay. Now, in Washington's findings, did the Washington Insurance Commissioner also did a blog post on this that caused some outrage on the part of Mr. Oliver. Have you seen that blog post?
      • A No, I have not.
      • Q Okay. I'm going to share another page. Let's look at it together, and it's actually Page 299 of 299.
      • ....
      • Q "We received the complaint from a woman who despite the fact she was unmarried and has no children and bought two $1,000,000 life insurance policies under annuity from Oliver and the associate Steven Minnich."  Do you know if Life of Southwest did anything to analyze whether she was an appropriate customer for selling two $1,000,000 life insurance policies and a annuity to, do you have anything in the file?
        • A Nothing in the file.
        • Q Okay. And if you see that the State of the Commissioner of the State of Washington talks about a scheme called maximum funding or misfortune concept. Are you familiar with the maximum funding or misfortune concept?
        • [Bonk: "misfortune concept" = Typo.  Should be "Missed Fortune" - Doug Andrew
    • (p35-37) - [Bonk: Complaints, Communication,
      • Q Well, is it the law -- are you telling me that the lawsuits are not considered complaints?
        • A No. They are not
    • (p37) -
      • Q All right. So, going back to look and to see what the insurance commissioner wrote. Do you know by the way does a misfortune concept comply with internal policies -- internal compliance policies at National Life or Life of Southwest?
        • A I have no idea what misfortune even means.
        • [Bonk: "misfortune" = Typo.  Should be "Missed Fortune" - Doug Andrew
    • .............
    • (p47) - Q A different department?
      • A Different department, yes.
    • (p49) - outside of the scope of their license
    • .............
    • (p58) - Matthew Desantos,
    • (p59) - Q (By Mr. Liggio) And I want you to assume that this future income payments situation, the Ponzi scheme aspect of it, became public knowledge either 2018 or 2019. Is that correct?
      • A I knew about it probably like July or August of 2018 is when I first heard about it.
      • Q Were the compliance folks asked to do anything or did you do anything, asked or not, to determine whether sales of life insurance policies of the Southwest -- Life Insurance of the Southwest policies along with this future income payments met with Life Insurance of Southwest protocols and procedures?
      • A No.
  • 2022 - LC -
    • Ponzi Scheme
  •  - LC - RAYMOND WIDICK -VS- ALLIANZ