CHARLESTON — A Morgantown couple is suing financial advisers, alleging breach of contract and negligence.
William M. Wine IRA, William M. Wine, individually, and Patricia L. Wine filed a complaint in Kanawha Circuit Court against William (Bill) D. Kinder, individually, and Bill Kinder & Associates, alleging the defendants represented that they had expertise in financial advising, retirement planning, asset protection and estate planning.
According to the complaint, on Jan. 15, based upon the advice of the defendants, the Wines transferred $420,000 to FIP LLC's account. Under the agreement, the plaintiffs said they were to receive $5,001.83 each month for 120 consecutive months. However, the suit says, as a result of the defendants' negligence, the plaintiffs sustained significant financial losses.
The plaintiffs allege the defendants negligently invested the Wines' money with FIP, a company that was shut down by the state of New York in 2016 for fraudulent and illegal practices.
The Wines seek trial by jury, judgment in an amount exceeding the jurisdictional limits of the court, interest, attorney fees, court costs and all other proper and just relief. They are represented by attorney Gerald R. Lacy of Lacy Law Offices LC in Charleston.
Kanawha Circuit Court case number 18-C-1223
