Cincinnati's largest bank sues Transamerica Life Insurance and consultant over $323 million investment loss

From The Enquirer (Cincinnati):

Fifth Third Bank has filed suit in federal court in Cincinnati to recover more than $323 million in losses from insurance policy investments it claims were mismanaged by Transamerica Life Insurance Co. and its consultant Clark Consulting Inc. in Dallas. ...In the lawsuit filed today, Fifth Third claims that Transamerica, based in Cedar Rapids, Iowa, and Clark Consulting, both units of Aegon USA Inc., a financial services holding company, failed to manage and monitor more than $612 million the bank paid into the investment backed policies known as Bank Owned Life Insurance (BOLI) products. ...

Fifth Third Bank has filed suit in federal court in Cincinnati to recover more than $323 million in losses from insurance policy investments it claims were mismanaged by Transamerica Life Insurance Co. and its consultant Clark Consulting Inc. in Dallas. ...In the lawsuit filed today, Fifth Third claims that Transamerica, based in Cedar Rapids, Iowa, and Clark Consulting, both units of Aegon USA Inc., a financial services holding company, failed to manage and monitor more than $612 million the bank paid into the investment backed policies known as Bank Owned Life Insurance (BOLI) products. ...