By Greg Wright
MBA, CFE, CFP®, CLU, ChFC
Certified Fraud Examiner
Certified Financial Planner™
|Ed Young Mug Shot|
After researching multiple investment fraudsters, I have concluded that, prior to being arrested, almost all of them had a public record of not being trustworthy, having customer complaints filed with regulators, and having their license suspended or revoked. If consumers had known the financial advisor’s record, he or she would never have done business with him. Their retirement nest-egg would still be intact.
In 2011, the Ohio Department of insurance issued a “cease and desist” order to Edward Young, Judith Young and Fortune Financial Group for soliciting insurance products to the Believers Christian Fellowship Church (Pentecostal) in Lima, Ohio. According to Ohio Dept. of Insurance documents, meetings were held at the church, and the Young’s were accompanied by Indiana insurance agents Messrs. James Beattey and Mark W. Miller, who also represented Fortune Financial Group.
|Judith Young Mug Shot|
For over ten years, Ed Young and Judith Young been the subject of numerous actions by the Indiana Department of insurance and Indiana Securities Division. Earlier this year, according to regulators, between the time he was charged and sentenced, Mr. Ed young attempted to set up a life insurance Company in Wyoming. We may not have heard the last about Mr. Young.