Bobbitt Settlement Valic Administrator Scam: All You Need to Know
Recently, there have been reports of a scam surrounding the Bobbitt settlement administrator and Valic. Here’s all you need to know about it.
What is the Bobbitt Settlement?
The Bobbitt settlement is a class action lawsuit that was filed against a company known as Valic. The lawsuit alleges that Valic breached its fiduciary duty by offering its employees high-cost investment options in their retirement plans.
Who is Valic?
Valic is a financial services company that provides retirement plans, insurance, and investment solutions to individuals and institutions. It is a subsidiary of AIG, a multinational insurance corporation.
What is the Scam?
The scam involves individuals posing as representatives of the Bobbitt settlement administrator or Valic and contacting participants in the settlement. The scammers offer to help participants receive their settlement funds faster if they pay a fee or provide personal information.
How to Avoid the Scam?
To avoid falling victim to the scam, it is essential to remember that the settlement administrator and Valic will never ask for personal information or payment in exchange for receiving settlement funds. Participants should also be wary of any unsolicited calls or emails and should only provide personal information through secure channels.
What to Do if You Suspect a Scam?
If you suspect that you have been targeted by a scammer, you should report the incident to the Federal Trade Commission (FTC) and the Bobbitt settlement administrator immediately. You should also monitor your accounts and credit reports for any suspicious activity.
FAQs
What is the Bobbitt settlement administrator’s website?
The Bobbitt settlement administrator’s website is https://bobbittsettlement.com/.
Is Valic a legitimate company?
Yes, Valic is a legitimate company that provides financial services to individuals and institutions.
What should I do if I have already paid a fee or provided personal information to a scammer?
If you have already paid a fee or provided personal information to a scammer, you should contact your bank or credit card company to report the incident and request a refund. You should also file a complaint with the FTC and the Bobbitt settlement administrator.
Can I still participate in the Bobbitt settlement?
If you are a participant in the Bobbitt settlement, you can still participate in the settlement and receive your funds. However, you should be cautious of any unsolicited calls or emails and should only provide personal information through secure channels.
Conclusion
The Bobbitt settlement administrator and Valic are not involved in any scams, and participants should be cautious of any unsolicited calls or emails. If you suspect that you have been targeted by a scammer, you should report the incident immediately.
