 | Florida busts
Accelerated Benefits Corp.(7/99)
|
| Underwriters Report and American Banker report
that Accelerated Benefits Corp.'s license was revoked by Florida regulators (8/30/99)
|
| Oklahoma issues permanent injunction against ABC and its local sales agent |
| Life Benefit Services (ABC's sister
company) charged with
fraud |
| Ties that bind:
ABC and Life Benefit Services
|
| ABC had ties to Michael Davis, paroled
murderer who ran Southwest Viatical (04/00) |
|
ABC
charged with fraud, several brokers implicated (7/3/00)
|
| ABC relocates business to Texas,
establishes subsidiary in Georgia
|
| ABC admits (and excuses) fraud
(privately) |
| ABC, Keith LaMonda, and the
Texas fraud case |
| Ohio issues enforcement orders against ABC and its agents
(4/01; 11/01)
 | Orders sent to ABC's Texas address |
|
| Kansas
issues enforcement orders against ABC
(05/01) |
| Florida revokes Accelerated Benefits
Corp.'s license due fraud (2/01)
| 31-page complaint includes names of brokers who sold
"clean-sheeted" policies to ABC including:
 | Medical Escrow |
| Washington Viatical Network |
| Benefits America |
| Cash for Life |
|
Life Benefit Services (of course!) |
|
|
| Investors get letters
from ABC charging them for premiums (00/01) |
|
Oklahoma Dept. of Securities charges ABC with fraud and other violations;
wins case against ABC (3/13/01) |
| Some investors get
letters from State of Florida notifying them that ABC's license was
revoked (4/27/01)
|
| Accelerated Benefits Corp. raided by FBI and Dept.
of Justice (5/01); boxes of records hauled away |
|
Virginia
goes after ABC and related entities (7/01 - 12/01) |
| Kansas charges ABC with securities violations
| Includes other names under which Accelerated Benefits
Corp. operates: "ABC
Viatical" and "Viatical Consulting Group"
in TX and GA |
| Watch out for
contestable policies, also called "non-conforming." |
|
| Louisiana holds hearing for Accelerated Benefits
Corp. (01/02) |
| Clarence Keith LaMonda's mortgage foreclosed by
Residential Finding Corp. Other defendants include his wife and his tenants |
| ABC loses: Appeals
Court upholds license revocation (02/27/02) |
|
Oklahoma takes over investments from Accelerated Benefits Corp. (2/02)
| Appoints conservator Tom Moran, who heads another life
settlement company |
| Conservator plans to resell investments to new viatical companies
(12/02) |
|
| ABC loses its appeal; Florida district appeals court upholds license
revocation by dept. of insurance (02/27/02) |
| Wisconsin orders ABC and Jess LaMonda to stop violating securities
statutes (10/02).
| Specific note is made of contracts that state investors will
never have to pay another dime, but investors now are required to pay
insurance premiums. |
|
| Oklahoma court OKs sale of policies to newly created viatical companies.
Low sales price worries investors. LaMonda protests the sale. (12/02) |
| Pennsylvania
issues orders against Accelerated Benefits Corp. and
Services International Corp.
(01/30/03) Details include:
| Investment sales of Life Agreements claim investors will receive a "125%
Bonded Guaranteed Growth" on a minimum investment of $25,000." |
| Orders include that ABC failed to inform investors about
| SEC charges against Keith LaMonda |
| Ohio orders against ABC |
| Kansas orders against ABC |
| revocation of viatical license by Florida department of insurance. |
|
|
| Texas securities commission raids ABC Viaticals, Inc. (04/24/03) |
| USA v. C. Keith LaMonda, Jesse W.
LaMonda, and John L. Maynard (07/13/05)
| Read the original Indictment and the Superseding
Indictment. |
| GUILTY March 7, 2007, after more than 80 days in trial and 8 days jury deliberation. Keith
released on $1 million bail, Jesse released on $100 thousand dollar bail, their former partner, ex-lawyer
John Maynard, remained free on $50 thousand bail. |
| Sentencing scheduled for May 17 rescheduled for July 10, 2007. The Presentence Investigative Report by
the Department of Justice, a total of 94 pages each for Jesse LaMonda and for C. Keith LaMonda, recommends
life sentences. |
| Sentenced on December 17, 2007 |
|
| ABC in the media (partial list):
| Jane Bryant Quinn, nationally
syndicated financial journalist used ABC as an example in her 10/16/97 column,
Viatical Vices: Hidden Risks in Life Insurance Deals (Washington Post and
Newsweek). |
| Death Watch,
Kiplinger's Personal Finance, March 1999 |
|
| ABC files 2 SLAPP lawsuits against Gloria Wolk and Bialkin Books
(also files suit against Kiplinger's, and threatens
suit against Ralph Nader)
|
ABC's attorneys quit
(but they
deny this)
| And so we offer
proof -- the document filed by the LaMondas' attorneys.
No charge to view it, but please email us your request. |
|
| ABC principals, "Dr. Jess,
Ed.D." and Clyde Keith LaMonda, file 2d SLAPP Florida
lawsuit against Gloria Wolk and Bialkin Books -- this time in Orange
Cty., Florida |
| "Dr. Jess, Ed.D."and C.
Keith
ambush Gloria Wolk, ask
judge to ban books, shut down web site (06/00) |
| Wolk's attorney gets both SLAPP suits
by the LaMonda's dismissed. |
| Court orders ABC to pay Wolk's
attorney, Eric Stettin, $34,000 for legal fees and expenses.
|
| ABC dismisses its suit against Kiplinger's (02/01) |
|
