Years after losing her retirement savings to a Ponzi scheme run by a Sherman Oaks money manager, Christine Ramirez could soon get it back — and much, much more.
A Los Angeles jury this week found that New York insurance giant MetLife, two of its subsidiaries and a local insurance broker should not only compensate Ramirez for the $240,000 she lost to the scam, but also pay the Simi Valley retiree more than $15 million in punitive damages.
“I can’t believe it,” said Ramirez, who is in her mid-70s and fighting late-stage breast cancer. “It feels wonderful.”
Although MetLife officials indicated that they might appeal the case, the amount of punitive damages awarded...