This information was recently leaked - and stems from multiple complaints by both agents and consumers.
If you are considering contracting with IPA or any of its affiliates or you currently are with them - keep accurate records on any communication from the company related to: how you were sold the opportunity (recruited), explanation of compensation (specifically when it was given to you), whether your contract was clearly explained to you at time of recruitment, any training provided and the nature of the training - you may be called to make a statement or testify if your insurance license is currently tied to any of these companies.
Independent Producers of America, IPA - also known as ABBA - lead by David Keeler, Rick Pertile, Mark Hunt, Dan Deneui, Mike Baker, Sondra Bradley, and others ; affiliated with IAC could be under Investigation by the Dept of Financial Services - there is also the possibility of a Fed Investigation as well. IPA and IAC could be looking at a cease and desist order in multiple States as well as fines and suspension of licensure.
The initial Investigation related to misrepresentation regarding recruiting practices. A potential for a Class Action Lawsuit - and a hot topic with the press - IPA's recruiting practices have been deemed as "inherently unfair" bordering on profiteering given the nature of today's economy and it's Captive Agent Contract. The investigation has lead to multiple findings of misrepresentation regarding products, contracting and compensation that should lead to further fines and lawsuits.
The Fed is looking into a more aggressive Investigation as a follow-up to one that the Leadership team for IPA was involved in early 2000 and managed to shake any accountability from. Several of the IPA leaders were terminated by UGA as a result of that Investigation that was conducted by Florida's Dept of Financial Services.
If you are aware of any suspicious activity, communication or otherwise please contact your local better business bureau, your congressman and your local Dept of Insurance to file a report. If you are currently with IPA and have been witness to fraudulent activity you are urged to report these acts to your Dept of Financial Services. Any other violations or non-discolsure tactics by the company should also be reported.
The first line of defense is your local press - unethical workplace behavior and hiring practices should be reported to the community press and exposed for the greater good.