Sep 14, 2011 05:29AM

Christian Stanley Inc assets frozen bye SEC

It seems like more and more of this type of fraud is showing up in the industry… Christian Stanley’s program was labeled as “Reverse Life Insurance” The Securities and Exchange Commission?s Los Angeles district office has obtained an emergency court order halting all operations and freezing the assets of a company it says has been [...]

May 20, 2011 07:18AM

Life Settlement Broker sues after commission issue

Carole Fiedler, a Greenbrae, Calif., viatical and life settlement broker who operates Innovative Settlement Solutions, sued after her $180,000 fee was not paid after she gave advice on whether a $3 million policy should be sold. She filed a lawsuit Tuesday in Marin County Superior Court in San Rafael, Calif., alleging breach of contract, breach [...]

May 20, 2011 07:12AM

Retirement Value Life Settlement Payments Update

The Texas State Securities Board in May 2010 obtained a court order shutting down Retirement Value. Regulators alleged the firm committed fraud by selling unregistered securities to investors. Retirement Value CEO Richard ?Dick? Gray, who authorities said repeatedly engaged in illegal sales of securities, has reached a tentative agreement to pay $650,000 in cash and [...]

Apr 15, 2011 07:02AM

Law Firm file class action lawsuit against Life Partners

Dallas Law Firm Heygood, Orr & Pearson Files Life Settlement Class-Action Lawsuit Against Life Partners Holdings, Inc.’s Life Partners Inc. Dallas Law Firm Heygood, Orr & Pearson announced that they have filed a class-action lawsuit in Ellis County on behalf of Texas investors who say Waco-based Life Partners Inc. charged excessive premiums on the company’s [...]

Feb 16, 2011 08:28AM

Provident Capital accused of Life Settlement fraud charges

The Securities and Exchange Commission yesterday slapped Provident Capital Indemnity Ltd. with a lawsuit, alleging that the company had conducted a major life settlement bonding fraud. The firm’s president, Minor Vargas Calvo, and its outside auditor Jorge L. Castillo, were also charged in the case. PCI, based in Costa Rica, provided the financial backstop for [...]