Viatical & Life Settlements
                                         consumer information
                                                            

__________________________________________________________________________________________________________

We do not buy
or sell
viatical contracts

To Order Books
Click links
at the bottom
of the page





(not the actual cover)

Shepherds Select Funds -- an MBC Affiliate

            Mutual Benefits Corporation (MBC) had affiliates based in many parts of the world. Shepherds Select Funds (SSF), based at the Isle of Mann, worked exclusively with Fort Lauderdale, Florida-based MBC, raising $46 million through its network of approximately 50 financial advisors in the United Kingdom and 50 overseas who, in turn, sold the investments to their clients.

            Now, along with all other investors in the U.S., Taiwan, South America, and Europe, these people have little to show for trusting that the investment, which they referred to as "traded life policies" was "low risk."

        SSF's business was suspended immediately following the legal actions in Florida in May 2004, which shut down the company.  It went into liquidation in on May 6, 2005.

        Now a former director of SSF is back in the business of selling these "low risk" investments. Jeremy Leach is managing director for a Cayman Islands-based fund, Managing Partners Limited Fund. Managing Partners invests in the same unregulated, illiquid, high risk "traded life policies" (TLP) and Leach continues to claim that it is "medium to low risk."

        Instead of purchasing shares of a policy, as SSF did, Managing Partners invests only in whole policies. Instead of using one supplier, the company uses six.

        Leach also claims that the industry is highly regulated now.

        He obviously did not read the new Investor's Guide. Hopefully, his clients will read it before risking huge amounts of their savings.