VIATICAL & LIFE SETTLEMENTS CONSUMER INFO

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Edward Stein and DISP

On April 1, 2009 the Sec took action against Edward T. Stein of New York and seven investments he purported to offer investors, including DISP LLC. In 2002, Stein set up DISP as an investment fund to invest in life settlement policies. According to the SEC, DISP did buy some life insurance policies with investor funds, but did not buy any since at least 2004. Stein then transferred the portfolio of policies DISP held to Vibrant, a Stein-controlled entity. He did not disclose the transfer to existing or prospective DISP investors. Stein also used DISP investor funds to pay off Gemini investors.

Stein is alleged to have received $55 million from investors, and used the funds for personal luxuries.