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August 24, 2010

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Wisconsin Annuity News

Three Samsung Executives Agree to Plead Guilty, Serve Jail Time

Three executives from Samsung Electronics Company Ltd., the world's largest manufacturer of a common computer component called dynamic random access memory (DRAM), have agreed to plead guilty and to serve jail time in the United States for participating in a global conspiracy to fix DRAM prices, the Department of Justice announced.

Four companies and 12 individuals have been charged and fines totaling more than $731 million have resulted from the Department's DRAM investigation. It is the second largest amount of fines ever collected by the Department of Justice from a single price-fixing conspiracy.

Each executive also has agreed to pay a $250,000 fine and to cooperate in the Antitrust Division's ongoing investigation of the DRAM industry. In agreeing to plead guilty, the executives have agreed not to contest the jurisdiction of the United States, so extradition will not be required. The pleas and sentences are subject to the approval of the U.S. District Court in San Francisco.

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Did You Know?

Variable annuities are not suitable for meeting short-term goals
Remember: Variable annuities are designed to be long-term investments, to meet retirement and other long-range goals. Variable annuities are not suitable for meeting short-term goals because substantial taxes and insurance company charges may apply if you withdraw your money early. Variable annuities also involve investment risks, just as mutual funds do.

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	Latest news about Annuity cases in Wisconsin and nationwide: Three Samsung Execuitives Agree to Plead Guilty, Serve Jail Time Four companies and 12 individuals have been charged and fines totaling more than $731 million have resulted from the Department's DRAM investigatio... Read more > Last Atlantis Capital Management Appoints Former Head of Midwest Discount Brokers In addition to his role overseeing the firm’s regulatory operations, Mr. DeWeese is directing development of Last Atlantis’ proprietary... Read more > Agent Arrested in Annuity Fraud Scheme Agent Arrested in Annuity Fraud Scheme David Franklyn McMillin, an Austin life insurance agent, has been arrested on charg... Read more > More Annuity News >

Annuity Lawyers.com Terms

Today's Terms

Accidental Dismemberment

Definition:
Bodily injuries sustained solely through violent, external and accidental means, and as a direct result of the bodily injuries, independently of all other causes, and within 90 days afterwards, you lose your limb or eyesight.

Defined Benefit Pension Plan

Definition:
A pension plan that promises participants a specified monthly benefit at retirement.

Market Rate of Interest

Definition:
The percentage of interest paid on certain FERS deposits and refunds. Based on the average interest earned by the Civil Service Retirement and Disability Fund in the previous year. In 1998, the interest rate is 6.75%.

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Annuity Law Hot Topics

Topics Related to Annuity:

Client Manipulation
Providing False Information
Lying to Auditors
Unauthorized Transactions
Breach of Fiduciary Duty
Broker Embezzlement

Wisconsin Annuity-Law Attorney

If you live in the following cities and need an Annuity-Law attorney you should contact our Annuity-Law Attorney as soon as possible:

Appleton
Beloit
Burlington
Chippewa Falls
De Pere
Eau Claire
Fond Du Lac
Franklin
Green Bay
Janesville
Kenosha
La Crosse
Madison
Manitowoc
Marshfield
Menomonee Falls

Milwaukee
Neenah
New Berlin
Oak Creek
Oconomowoc
Oshkosh
Racine
Sheboygan
Stevens Point
Sun Prairie
Superior
Waukesha
Wausau
West Bend
Wisconsin Rapids

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