One such SAR described a man who purchased a $ million annuity with a check from a corporation unknown to the filer, claiming the funds were lottery winnings. He then withdrew more than $ million within nine months, despite a ten per- cent penalty, claiming he wanted the money to fund a business acquisition. Another filing described a business owner who opened a pair of variable annuities totaling over $550,000 in February 2006, and added over $720,000 to the annuities before the end of June 2006. From February to July 2006, the annuity owner made almost $550,000 in surrenders, incurring.
