Colorado Bankers (CB Life)...

[Phyllis Christos]

Everyone please fill out and send in your victim's impact statement! We all need to do everything we can to send this pos who stole our money to prison!

YES -- WE DID THE VICTIM IMPACT STATEMENT ON THE DOJ WEBSITE!!
THANKS FOR POSTING THIS!

 

[rats0001]

Another delay
lindberg federal trial move to July 10 from July 3.
Why don't they just schedule it for when the final policyholder dies, like 2070 or so.

 

[Dan T]

letter from CBL today… im now the proud owner of a 500,000 annuity paying 1%

 

[rats0001]

HAHAHAHAHAHAHA yeah right

[EXTERNAL LINK] - Greg Lindberg Proposes To Establish A $40 Million Fund To Purchase Annuities At Par from Colorado Bankers Life and Bankers Life Insurance Company Policyholders

just stop the liquidation appeal and this will finally end you ahole

 

[scagnt83]

HAHAHAHAHAHAHA yeah right

[EXTERNAL LINK] - Greg Lindberg Proposes To Establish A $40 Million Fund To Purchase Annuities At Par from Colorado Bankers Life and Bankers Life Insurance Company Policyholders

just stop the liquidation appeal and this will finally end you ahole

Actually, that would be the best thing for policy holders. Assuming that would cover most of them.

I get the principal of the matter, but do you care more about your money or payback?

 

[rats0001]

I think there are about $2 billion of policies total.

 

[Stephen Round]

Suppose we die before this thing is settled? Does the full amount automatically become part of our estate?

 

[scagnt83]

I think there are about $2 billion of policies total.

$2B in Cash Value? Or is that combined with Death Benefit?

 

[rats0001]

On the December 31, 2022 financial statements are the following:
Total Assets $ 1,323,768,936
Total Liabilities $ 2,485,161,914
Net Worth -$ 1,163,892,978

 

[scagnt83]

On the December 31, 2022 financial statements are the following:
Total Assets $ 1,323,768,936
Total Liabilities $ 2,485,161,914
Net Worth -$ 1,163,892,978

Yes. But a Death Benefit liability is different than an Annuity liability in regards to a buyout of policy holders.

A Death Benefit liability is not due right now. And to buy out those policy holders, it does not require the full Death Benefit, its based on the Cash Value.

A life policy could have a $100k DB but just a $5k CV. The buyout is for $5k, not the full liability of $100k.

That is why the number of life policies in that figure matters in regards to his offer of $40m.