MyFedRetirementWerks Reports & Reviews

MyFedRetirementWerks Reports & Reviews (1)

Total money lost: $2,400
Type of a scam: Investment

Shaun Moberg presented himself as a benefits specialist with myfedretirementwerks, a company based in Dallas, Texas. He set up a life insurance policy and annuity accounts which the monies were funneled through WesBanco into accounts held at CBI insurance. Approximately 10 months later, Moberg presented again stating that the insurance company was closing and being investigated and asked if we wanted to use their other company. We became suspicious and refused. Moberg then filled in paperwork for the closure of the current account and stated that we would get our money back.

It has been months and Moberg will not call back or provide a phone number for the office (the number on the website is not active). We have not been given our money back.

I contacted CBI myself on 1/27/2020. They claim that they were not closing and there is simply a freeze on the annuity account. The life insurance account monies are then forfeited because Moberg closed the account. We would not have closed this account except for Moberg's inability to communicate exactly the nature of the investigation against this company. Now we have no recourse and no way to contact Moberg's superiors. It is as if this company never existed. It appears fraudulent.

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