Viatical & Life Settlements
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Viatical Capital Busted by SEC

Summary: On September 11, 2003 the Securities and Exchange Commission issued emergency orders against Viatical Capital, Inc., Charles Douglas York, Robert Kingston Coyne, and Life Investment Funding Enterprises, inc., alleging they engaged in a systemic fraud in connection with the sale of viatical investments. We warned against the Coyne and York viatical investments for several years, and these entities previously were the subject of enforcement actions by regulators from Indiana, Washington, Ohio, and Wisconsin.

The S.E.C.'s investigation was coordinated with the Florida Office of Financial Restitution and the Enforcement Division of the Texas State Securities Board, and revealed $61 million invested by at least 1,900 elderly and unsophisticated investors.

Details of the scam are available through our Special Report.

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