Yesterday, Todd Bernstein, 67, of Birmingham, was arraigned before Magistrate Julie Nelson-Klein in the 48th District Court





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*FOR IMMEDIATE RELEASE:*
July 31, 2025




*Media Contact:*
Danny Wimmer <[email protected]>






Birmingham Man Charged with Insurance Fraud

*LANSING* – Yesterday, Todd Bernstein, 67, of Birmingham, was arraigned before Magistrate Julie Nelson-Klein in the 48th District Court in Bloomfield Hills on four counts of Insurance Fraud, each a 4-year felony, announced Michigan Attorney General Dana Nessel. Bernstein, a financial advisor in Michigan, is alleged to have submitted misleading information on annuity suitability applications on behalf of his clients, who were over the age of 65, to conceal that new annuities were being purchased with proceeds from early surrendered annuities. The Michigan Department of Insurance and Financial Services (DIFS) assisted in this investigation. 

“Consumers must be able to trust financial professionals to act truthfully and in their best interests,” Nessel said. “My department remains committed to protecting Michigan residents from illegal and predatory business practices.” 

“Consumers should be able to rely on licensed financial professionals to help them protect their financial future,” said DIFS Director Anita Fox. “DIFS is committed to protecting Michigan consumers by working with the Attorney General to investigate and prosecute those who abuse their customers’ trust. Michiganders who suspect fraud can report it online [ [link removed] ] or by calling DIFS at 877-999-6442 Monday through Friday from 8 a.m. to 5 p.m.” 

Bernstein will next appear before Judge Diane D'Agostini in the 48th District Court on August 12. 

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"*Please note:* For all criminal proceedings, a criminal charge is merely an allegation. The defendant is presumed innocent unless and until proven guilty. The Department does not provide booking photos."






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