VIATICAL & LIFE SETTLEMENTS CONSUMER INFO
for Prudent Sellers and Investors
VIATICAL & LIFE SETTLEMENTS CONSUMER INFOfor Prudent Sellers and Investors
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We do not buy
To
Order Books
In sympathy |
with Viatical & Life Settlements |
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Reinsurance provided by Provident Capital Indemnity, Ltd. |
SEC Fraud Litigation
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Scott M. Ross and Elucido Fund (02/03/09) |
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Edward T. Stein and DISP (04/01/09) |
Analysis of Life Partners Holding Inc. by investment experts
concludes, "This
Life Partner May Not Be Good for You."
Joel
Steinger (MBC) placed his river front estate on the market for $9 million. Currently, he is at home with an
ankle bracelet and curfew. Details and pictures in Bob Norman's column, "The
Spoils of Ponzi."
Four indicted in $1 billion MBC Fraud--at last! (01/05/09)
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Mutual Benefits Corp.'s lawyers, Michael McNerney and Anthony Livoti Jr., and executives Joel Steinger and Steven Steiner were charged in 25-count indictment. They could face 20 years in federal prison. |
ABC Viaticals (formerly Accelerated Benefits Corp.)
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Jesse LaMonda and Keith LaMonda SENTENCED! |
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Details of United States v. LaMonda |
TV personality Larry King's lawsuit alleges he was defrauded in life settlement
transactions; lawsuit accuses insurance agent in regard to sale of King's life insurance to
Coventry First. (10/22/07)Florida lets Coventry
off the hook--and fills it coffers .
New
York Life rescinds $3,570,000 policy issued to 82 year old.
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NY Life accused the insured, his son, and Coventry Capital (parent of Coventry First) with applying for the policy for the purpose of selling to investors. (02/07) |
Amerifirst, Capital 1st Advisors, and other related
companies charged with investment fraud by the Florida; SEC also after them. (07/07)
SEC files lawsuit and shuts down Lydia Capital, charges the hedge fund defrauded thousands of Taiwanese
investors. ALL policies insured seniors; ALL are contestable. Details to be added. (Complaint filed 04/07)
NAIC model viatical law: 5 year moratorium on sale of policies by people who acquire them for the purpose of
selling to investors. (06/04/07)
Neither Future First Financial Group nor Mutual Benefits Corp.,
sometimes described as Ponzi scams, were Ponzi scams. They did have life insurance policies. Both companies engaged in
many types of fraud but they bought and sold real policies.
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Mutual Benefits Corp. was NOT a Ponzi scam, according to the Receiver. (05/07) |
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Accountants who provided the annual audits of MBC and ignored the many "red flags," thereby assisting MBC with obtaining and retaining licenses, decided to settle the lawsuit filed by the receiver. They will pay $3.5 million. |
Premium finance company
sued by family of elderly man who used their services to purchase life insurance. Details to be added.
Life Settlements:
New studies of mortality of older age
insureds (What can kill you at age 40 may preserve you at age 80!)
Sample pages from the new "Viatical
& Life Settlements: An Investor's Guide."
This site is viewed by people the World Over -- between 150,000 and 215,000 each
month.
Fraud
Victim Test - an interactive test from the North American Securities
Administrators Association (N.A.S.A.A.)
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