Viatical & Life Settlements
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USA v. LaMonda

On July 13, 2005 the Department of Justice filed suit  against C. Keith LaMonda, Jesse W. LaMonda, and a former Florida attorney, John L. Maynard. The indictment describes the following charges:

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Mail and wire fraud conspiracy related to contestable policies

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Mail fraud related to all policies sold as investments

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Mail and wire fraud conspiracy related to the premium reserve account (this charge is against Maynard as well as the LaMondas)

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Filing a false tax return (Keith LaMonda)

The government requests a money judgment in the amount of $13 million against the LaMonda brothers, and a money judgment in the amount of $6.3 million against Maynard.

Jesse LaMonda, whose address is listed as 1401 Grandview Boulevard, Kissimmee, Florida, 34744, and Keith LaMonda, whose address is listed as 1300 Grandview Boulevard, Kissimmee, Florida, 34744, were arrested on July 14 and released on $25,000 unsecured bond, after surrendering their passports. The government asked that Keith's residence be forfeited. The government also noted that related actions were taken by the states of Florida and Oklahoma.

To read the indictment, click HERE (Adobe Reader needed)

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March 2007: The LaMondas and their associate, John Maynard, a disbarred attorney, were found GUILTY of fraud charges after more than 80 days of trial and 8 days jury deliberations. The brothers also are being sued by the SEC.

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December 17, 2007: C. Keith LaMonda, 53, sentenced to 20 years; Jesse LaMonda, 61, sentenced to 13 years; John Maynard sentenced to 10 years in prison.

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The LaMonda brothers were ordered to pay nearly $88 million in restitution to victims to whom they sold viatical investments, and $1.3 million to the Internal Revenue Service. Maynard was ordered to pay victims $52 million (12/17/07)

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Viatical Litigation: Principles & Practice - the first legal text on the industry
Viatical & Life Settlements: An Investor's Guide
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