Former Washington Resident Agrees to Refund Seniors for Living Trusts

Washington Attorney General's Office, Nov 29, 2007

SEATTLE – Attorney General Rob McKenna announced a settlement with Coranda Living Trust Services and its owner, Stephen Cuccia, Jr., in which the former Sumner resident agreed to provide refunds to Washington residents who purchased estate planning products. The agreement resolves allegations that Cuccia made misleading statements in order to sell living trusts and insurance annuities to at least 70 seniors.

“We believe that Stephen Cuccia represented himself as a certified estate planner and made misrepresentations about the probate process when convincing senior citizens to purchase living trusts and costly insurance products,” McKenna said. “Not only was Cuccia not licensed to sell insurance in Washington, he was ineligible because he had been convicted of insurance fraud involving senior citizens in California.”

Under the terms of the agreement filed June 13 in King County Superior Court, Coranda Living Trust Services and Stephen Cuccia, Jr., did not admit any wrongdoing but agreed to pay up to $60,000 in restitution to Washington consumers. The money will be distributed as refunds, with any remaining funds used to reimburse the state for attorneys’ fees and costs and converted to civil penalties. The defendants must also pay an additional $12,000 in state attorneys’ fees and costs and comply with injunctive provisions.

Cuccia was convicted in of selling securities without a license in California in 1999. He began doing business in Washington in January 2004 and formed Coranda Living Trust Services as a nonprofit business with an address in Sumner.

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