Archive for February, 2010

February 10, 2010…A Florida Circuit Court jury in West Palm Beach has awarded punitive damages to a 79 year old senior citizen from Boca Raton in connection with her puchase of equity indexed annuities.  Shortly after Joyce Pogoda’s husband died in April of 2006, Rafael Golan of Delray Beach convinced Ms. Pogoda to cash in existing annuities and repurchase new equity indexed annuities which paid him a significant commission.  Under the terms of the new annuity contracts Ms. Pogoda would have been subject to penalties by accessing her funds prior to the expiration of a twelve year deferral period.  Ms. Pogoda’s counsel, Cristina Pierson of the Boca Raton firm of Hargrove Pierson & Brown, said that the case is very significant for Florida’s senior population in that it is the first time a jury has been presented with the protections afforded seniors under Florida Statutes Chapter 415 which provides civil remedies, including punitive awards, for vulnerable adults who have been financially exploited.

Please view the full article here: Jury awards $272,000 to Delray Beach widow