Florida CFO Alex Sink urges felony charges for insurance annuity scams

Purchased carefully, annuities can provide retirees with a stream of income.

But when sold to the wrong customers, annuities can be nothing more than a scam, Florida Chief Financial Officer Alex Sink said Monday. Unscrupulous agents who peddle them for personal gain should face felony charges, she said.

"We are going to take action to stop scamming against seniors," Sink said. "We are going to make sure the Legislature does what is right..."

Tampa Bay: Florida CFO Alex Sink urges felony charges for insurance annuity scams