Consumers and victims press Professional Fiduciaries Bureau on enforcement; Bureau outlines complaint process

Public commenters at the Sept. 11 meeting of the Professional Fiduciaries Bureau Advisory Committee accused some licensed fiduciaries of serious misconduct and urged the Bureau to hire more investigators, while Bureau staff described how complaints are processed and what enforcement options exist.

At the start of public comment, Jody Sussman said she had “a complaint with you that has been ignored for a couple of years now” and alleged that a group in Southern California “lied to the courts,” used predatory loans and forced sales of wards’ property. Sussman added that gag orders and attorney conduct had silenced victims and that some complaints implicated “the most vulnerable people, the elderly and special needs children.” Farnaz Rahimi, another WebEx commenter, said she was a victim of a licensed fiduciary and that subpoenas and prior…