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Continued: State accuses Shorewood firm of ‘trust mill’ fraud

  • Article by: JENNIFER BJORHUS , Star Tribune
  • Last update: February 3, 2014 - 9:24 PM

Gary and Penny Pietila, a couple in White Bear Lake, said they bought a living trust from Heritage Partners for $2,295 and were later sold three annuities. The annuities didn’t perform as they were explained, said Penny Pietila, a hospice oncology nurse. And the trust mistakenly gave both the financial power of attorney and right to make health care decisions to one of their two daughters, when each of their two daughters was supposed to be given one responsibility.

When they finally reached Friendshuh about the mistake, he told them to make the correction by hand on their docu­ment, they said. “I feel like this is an example of a growing number of us baby boomers being taken advantage of wrongfully by a tactic of building trust,” Gary said.

 

Jennifer Bjorhus • 612-673-4683

 

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