Life Partners Sued by SEC for Fraud in Life Settlement Deals

Discussion in 'Life Settlements Forum' started by STIBROKER, Jan 4, 2012.

  1. yeasin123
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    yeasin123 New Member

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    The senior-most executives at Life Partners concealed significant risks to the business, manipulated financial statements with improper accounting, and knowingly profited from their misconduct by executing insider trades based on information that was not available to the public,” David Woodcock, director of the SEC’s Fort Worth Regional Office, said in a statement yesterday
     
  2. Brian Anderson
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    Brian Anderson Moderator Moderator

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  3. lifesettlementadvisor
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    lifesettlementadvisor Well-Known Member

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    This case is coming to an end. All the investors have received ballots to vote on a plan of reorganization to get it out of Ch 11.
     
  4. Brian Anderson
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    Brian Anderson Moderator Moderator

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    It's decision time for Life Partners customers. Sounds like it isn't an easy one.
    From the Wall Street Journal:

    Life Partners customers who invested in roughly 3,400 life-insurance policies must decide by Tuesday between two competing plans from life-settlement firms Vida Capital Inc. and BroadRiver Asset Management, which are fighting to manage the lucrative Life Partners $2.3 billion portfolio.

    The plans offer an array of payout scenarios and fees explained in more than a thousand pages of dense legal language.


    Life Partners Customers Face Tough Investment Decisions - WSJ
     
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