BECKLEY – A Rainelle couple is suing an investment adviser alleging they lost an investment because of the adviser's recommendation.
Kermit A. Hunter IRA; Kermit A. Hunter, individually; and Carolyn S. Hunter, his wife, filed a complaint in Raleigh Circuit Court against William D. Kinder individually, and Bill Kinder and Associates Inc. alleging negligence and other counts.
The suit states the plaintiffs are conservative investors and advised the defendants multiple times that they only wanted safe investments. The suit states that the defendants met with the plaintiffs in 2017 and informed the plaintiffs of a concern that they would run out of money in retirement.
The suit states the defendants advised the plaintiffs to purchase a number of investments for retirement purposes, telling them that the investments were safe options. The plaintiffs allege they made a $175,000 investment in a structured cash flow with FIP LLC at the defendants' recommendation.
In April 2018, the suit states the defendants informed the plaintiffs that FIP LLC was having "financial difficulties" and the plaintiffs' retirement funds were gone.
The plaintiffs are seeking all reasonable sums due, attorney fees and court costs. They are represented by Gerald R. Lacy and Gara Hoke Lacy of Lacy Law Offices LC in Charleston.
The case has been assigned to Circuit Judge Robert A. Burnside Jr.
Raleigh Circuit Court case number 19-C-153
