IFAwebnews » life settlements

SEC says Texas firm defrauded investors in life settlement transactions

Bob Graham — Fri, 06 Jan 2012 17:00:23 +0000

Federal securities regulators say a Texas-based life-settlement firm and three of its senior executives “systematically and materially underestimated the life expectancy estimates,” which in turn caused its shareholders to be “duped.”

SEC says Texas firm defrauded investors in life settlement transactions via IFAwebnews.

Plea expected from Costa Rican man linked to life settlement scheme

IFAwebnews Staff — Mon, 21 Nov 2011 11:11:44 +0000

A plea agreement appears to have been reached in a case where a Costa Rican man allegedly led a $670 million life settlement scheme, according to an Associated Press report.

Plea expected from Costa Rican man linked to life settlement scheme via IFAwebnews.

A&O’s life portfolio sold after principals’ fraud leads to bankruptcy

Jaime L. Brockway — Sun, 16 Oct 2011 21:45:54 +0000

New York, N.Y.-based life settlement broker sold A&O’s remaining life insurance portfolio for $4.84 million after the company filed for bankruptcy.

A&O’s life portfolio sold after principals’ fraud leads to bankruptcy via IFAwebnews.

Md. financial advisor indicted, allegedly defrauded clients of $838,000

Bob Graham — Fri, 19 Aug 2011 01:59:23 +0000

A former vice president at Harbor Financial, an insurance brokerage in Baltimore, Md., was indicted by a federal grand jury in connection with an alleged scheme to defraud his clients of more than $838,350.

Md. financial advisor indicted, allegedly defrauded clients of $838,000 via IFAwebnews.

New investors see life settlements as hedge against U.S. debt default

Bob Graham — Fri, 29 Jul 2011 14:35:45 +0000

Life settlements are becoming an increasingly appealing option for investors who fear the recent volatility of the stock market combined with the globalization of financial markets, according to a Dallas-based company that trains life settlement brokers.

New investors see life settlements as hedge against U.S. debt default via IFAwebnews.

Five sentenced in Va. for roles in $100 million life-settlement fraud

Bob Graham — Tue, 26 Jul 2011 11:44:12 +0000

Five employees of a life-settlement company, including two executives, who admitted to conspiring to bilk more than 800 investors were sentenced to prison for their roles in the $100 million, life-settlement fraud scheme.

Five sentenced in Va. for roles in $100 million life-settlement fraud via IFAwebnews.

Lawyer admits role in life-settlement scheme involving AIDS patients

IFAwebnews Staff — Mon, 23 May 2011 14:01:01 +0000

A lawyer in Florida has admitted to conspiring to fraudulently sell life insurance policies held in the name of AIDS patients.

Lawyer admits role in life-settlement scheme involving AIDS patients via IFAwebnews.

Pa. senators question IRS handling of life settlements

IFAwebnews Staff — Thu, 19 May 2011 13:30:02 +0000

Two senators from Pennsylvania are raising concerns about the federal tax treatment for life insurance policy sales and purchases.

Pa. senators question IRS handling of life settlements via IFAwebnews.

Former Calif. insurance agent sentenced for Ponzi scheme using STOLIs

Bob Graham — Fri, 29 Apr 2011 19:02:05 +0000

A former insurance agent from Clayton, Calif., was sentenced to nearly four years in state prison for his role in a $800,000 Ponzi scheme involving stranger-owned life insurance (STOLI).

Former Calif. insurance agent sentenced for Ponzi scheme using STOLIs via IFAwebnews.

Life settlement bidding ‘aggressive,’ set for one of ‘strongest years’

Bob Graham — Wed, 27 Apr 2011 18:18:29 +0000

The life settlement industry is positioned for “one of its strongest years in recent memory,” according to a financing company chief executive.

Life settlement bidding ‘aggressive,’ set for one of ‘strongest years’ via IFAwebnews.