Federal Judge Dismisses Investor’s RICO Claims In Alleged Reinsurance Scheme

Mealey's (July 15, 2019, 1:21 PM EDT) -- KANSAS CITY, Kan. — In a dispute over an alleged reinsurance scheme, a Kansas federal judge on July 12 ruled that an investor’s Racketeer Influenced and Corrupt Organizations (RICO) Act claim involving the financial strength of an investment company is reverse-preempted under the McCarran-Ferguson Act and that a RICO theory alleging the fraudulent design of the annuity at issue fails to state a claim (Albert Ogles v. Security Benefit Life Insurance Co., et al., No. 18-02265, D. Kan., 2019 U.S. Dist. LEXIS 116147)....