June 25, 2018 / 2:49 PM / 5 months ago

Massachusetts regulator accuses Metlife of fraud over unpaid pensions

BOSTON, June 25 (Reuters) - Massachusetts’ securities regulator on Monday accused MetLife Inc of making false statements relating to its failure to pay pensions to hundreds of retirees in the state that it improperly treated as “presumed dead.”

Massachusetts Secretary of the Commonwealth William Galvin, the state’s top securities regulator, charged MetLife following a probe that began after the insurer revealed in December it had failed to pay pensions to potentially thousands of people. (Reporting by Nate Raymond in Boston Editing by Chizu Nomiyama)

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