A Michigan financial advisor was charged with four counts of in
surance fraud, each a four-year felony, Attorney General Dana Nessel announced last week.
Todd Bernstein, 67, of Birmingham, was arraigned on July 30 before
Magistrate Julie Nelson-Klein in the 48th District Court in Bloomfield Hills. He iss alleged to have submitted misleading
information on annuity suitability applications on behalf of his clients,
who were over the age of 65, to conceal that new annuities were being purc
hased with proceeds from early surrendered annuities.
The Michigan Department of Insurance and Financial Services (DIFS) assisted in this investigation.
“Consumers must be able to trust financial professionals to act truthfully and in their best interests,” Nessel sa
id. “My department remains committed to protecting Michigan residents from illegal and predatory business practices.”
Bernstein will next appear before Judge Diane D’Agostini in the 48th District Court on August 12.
According to the EEOC’s lawsuit, female employees at East Jordan Plastic’s Beaverton, Michigan location
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were sexually harassed by a male co-worker. The harassing conduct included sexually explicit comments and inappr
priate touching. Because East Jordan Plastics received at least two complaints from different women, it was aware of the harassment, but it took no disciplina
ry action against the male employee. The company finally cond
ucted interviews and terminated the harasser, but only after yet another woman complained.
The company’s alleged conduct violated Title VII of the Civil Rights Act of 1964, which prohibits sexual harassment.
The EEOC filed suit (EEOC v. East Jordan Plastics, Case No. 2:25-cv-12302) in U.S. District Court for the Eastern District of Michigan after first attempting to reach a
pre-litigation settlement through its administrative conciliation process.