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  • Report: #1086800

Complaint Review: Sherrie Shruti Kohli - Chase Financial Services

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  • Submitted: Mon, September 23, 2013
  • Updated: Tue, July 01, 2014

  • Reported By: Attorney doug — San Diego California
Sherrie Shruti Kohli - Chase Financial Services
502 N. Las Posas Road Camarillo, California USA

Sherrie Shruti Kohli - Chase Financial Services J.P. Morgan Chase Bank, Chase Investments Services Corp., Shruti Sherrie Kohli Financial Elder Abusing Criminal - Shruti Kohli PREYS on & Victimizes the Elderly Camarillo California

*Author of original report: UPDATED - Kohli Deposition Even Worse than Originally Reported!!

*UPDATE EX-employee responds: Obviously False Information

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Shruti "Sherrie" Kohli of Chase Financial Services or Chase Investment Services is an financial elder abusing criminal. J. P. Morgan Chase Bank, N.A. provides Shruti Kohli with financial information of their banking customers and steers their elderly customers to Shruti Kohli for "investment" advice.

Shruti Kohli then "cons" or convinces these elderly clients to "invest" in deferred annuities that have a ridiculously long period of time to mature that is well beyond the client's or any person's life expectancy.  Moreover, these deferred annuities have substantial penalties for early withdrawls.

Sherrie Kohli, obviously, reaps a substantial windfall by selling these deferred annuities by way of commissions. The deferred annuities are poor investment decisions, in most cases.

J.P. Morgan Chase Bank, N.A. moves, and has moved, Shruti Kohli from branch to branch to branch, from Santa Barbara to Ventura, to Camarillo, to allow her to harvest or "cherry-pick" Chase's elderly customers with large cash deposits held by Chase Bank. Shruti Kohli then contacts these potential victims and persuades them to purchase a long-term deferred annuity without presenting other, more suitable, financial investments.

In one case, Shruti Kohli conned a 76 year old individual with obvious into "investing" their entire savings of $200,000 into a 29 year deferred annuity which meant that the person would have to live to be 104 years old before the annuity matured. Moreover, the 76 year old person was left with no money to pay bills or expenses and would incur substantial penalties for withdrawing any money from the annuity.

Shruti Kohli accomplished this con by telling the 76 year old person that there was a problem with their bank account and that transferring their money they would receive a higher rate of interest. Shruti Kohli exemplifies the worst financial advisor that directs "clients" into unsuitable investments so that she can reap the greatest commission.


This report was posted on Ripoff Report on 09/23/2013 09:13 PM and is a permanent record located here: http://www.ripoffreport.com/r/Sherrie-Shruti-Kohli-Chase-Financial-Services/Camarillo-California-93010/Sherrie-Shruti-Kohli-Chase-Financial-Services-JP-Morgan-Chase-Bank-Chase-Investments-1086800. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

UPDATED - Kohli Deposition Even Worse than Originally Reported!!

AUTHOR: Attorney Doug - ()

To update the initial report and respond to "Warren Buffet's" rebuttal, Sherrie Shruti Kohli and J.P. Morgan Chase Bank's financial elder abuse is even worse than initially reported by me.  Discovery during the civil suit evidenced that Sherrie Shruti Kohli filled out the withdrawal/deposit slip in the amount of $200,000 three days before she even called, contacted or met my mother.  Stated another way, Sherrie Shruti Kohli filled out the annuity deposit slip in the amount of $200,000 for my mother to sign three days before she ever talked with my mother about the annuity. 

Moreover, under penalty of perjury, Sherrie Shruti Kohli, stated that she decided on the amount of $200,000 for the annuity, prior to ever meeting my mother.  The annuity contract was for five years with substantial penalties for early withdrawal.  The 29 years was for the term of the annuity, but the bigger point is that my mother would not and did not know she had bought an annuity!!  She could not reverse or undo something that she did not know that she did!  That is exactly how elder abusers like Sherrie Shruti Kohli, Melissa Griffin, Walter J. R. Traver, Barry Hovis, Richard B. Davis and J.P. Morgan Chase Bank, N.A. operate because the people they fleece have no memory of the transaction!  I will attempt to attached a PDF copy of Kohli's deposition, but if you want a copy contact me. 

Additionally, the annuity was sold by Western National Life Insurance Company, who is no longer legally allowed to do business in California.  You know them as AIG.  My mother's money was completely safe in the FDIC insured bank where it sat, untouched, for three years prior to Kohli and company pulling their scam. Lastly, the supposed "advantage" to the fixed annuity was that it avoided Probate.  The important cavaet was, according to the terms of the annuity contract, WNL could take up to five years to pay the annuity after notification of death.  Ask yourself: If you owed $200,000 to someone would you pay them immediately or five years later?

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#2 UPDATE EX-employee responds

Obviously False Information

AUTHOR: Warren Buffet - ()

 1.) The annuity at issue alloted for the return of principal at any time.  Meaning if that client were unhappy with her decision she could ask for her principal returned.   In turn, any commission paid to the broker is reversed. This fact makes everything charged against Sherrie either, presumption, opininion and falsifications.

2.) The complaint states the annuity containted a 27 year term. Unfortunately no such financial product is in existence.   Clearly the attorney was mistakenly looking at the the "date of "annuitization" and failed to state the details in very viciously attacking the broker, who was likely just trying to get a fixed rate for the cleint.

I have know personal connection to the issue, but was sickened by the complaint.

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