New zero premium life insurance policy/life settlements

[Dave020]

It might be interesting to note which insurance companies ali is appointed with in all 50 states.

Name: SHAHRAK ALIREZA License#: 0F10078Non-Res Insurance ProducerLicense type: Life AgentStatus:
ActiveStatus Date:
03/07/2006Expiration Date:
03/31/2008Business Address: 5710 SIY FORKS RD 2ND FL RALEIGH, NC 27609Company AppointmentsThis licensee is authorized to transact on behalf of the following: PACIFICARE LIFE AND HEALTH INSURANCE COMPANYFor: Life and DisabilityEffective: 09/21/2006

 

[Dave020]

Certainly nothing out of the ordinary in CA, just one appointment with pacificare, probably had to write a client here or something. Not appointed with any life insurance carriers in the state, so I can't imagine how it could already be approved in CA if he is not contracted with the insurance company.

I do hope that he is not becoming the victim of someone who has an issue with him (not saying he is but this kind of publicity no one wants).

 

[Dave020]

CA DOI has heard quite a bit about this zero premium stuff and they have not approved any such thing for sale in this state.

 

[arnguy]

Insurancechick, you are loosely tossing around legal terms about this scheme. What court in what jurisdiction issued the "gag order?" What is the name of the judge who signed the order? What governmental agency (Federal, State, and/or Local) is going to assess the $1,000,000 fine and by what authority? Please cite the statute or case law for this. Insider trading? By what stretch of the imagination could insider trading apply here? Who has issued publicly traded stock from this organization?

Personally, it appears to me that this Ali character may actually be that famous character from the Tales of the Arabian Nights, none other than the fanous (or infamous) ALI BABBA AND THE FORTY THIEVES!

 

[arnguy]

I wonder why they keep changing the D-Day (Disclosure Day), maybe because it will be the Destruction Day if this whole thing blows up!

 

[STIBROKER]

THIS HAS BEEN SAID ABOUT 12 times so far, but NO agents will be appointed with the carrier - it will all go through Ali.

This is BS.......even a sub agent has to be appointed with the company he sells.......hummmmmmmm...

https://wwwapps.tdi.state.tx.us/inter/asproot/commish/da/clips2007.asp

Stewart Title of Houston Company of Houston
Order Number: 070234
Date of Order: 3/29/2007
Order Final In: March
Action Taken: $50,000 fine
Violation: Employed unlicensed individuals as escrow officers; Failed to maintain proper surety bonding

 

[Guest]

Robin and I have obtained a small sample of the kool-aid that InsuranceChick, Dallas, et. al. are drinking. Alfred is attempting to have the batcomputer analyze it. It may take awhile as the constituency seems to constantly change. But so far, here is what the computer has produced, inconclusively of course:

..384695934The$10feesmaybegoingintoanoffshoreaccountsomewhere754839727375382985.:::::::::

In the last few years dozens of Ponzi schemes have appeared all over the internet and have used attractive website interfaces to milk millions of dollars out of unwary investors. The Ponzi “Freeland Opps” appeared in early 2004 and grew to a membership of over 10,000 before disappearing by the year's end.

The novel Chance by Joseph Conrad depicted a Ponzi scheme in 1914 before Ponzi himself had hit the scene. Conrad's scammer "de Barral" offered ten percent interest on deposits in his operation "without system, plan, foresight, or judgement".

Between 1970 and 1984 in Portugal, a woman known as Dona Branca maintained a scheme that paid 10% monthly interest. In 1988 she was sentenced to 10 years in prison. She always claimed that she was only trying to help the poor, but in her trial it was proven that she had received the equivalent of 85 million Euro.

On March 22, 2000, four people were indicted in the Northern District of Ohio, on charges including conspiracy to commit and committing mail and wire fraud. A company with which the defendants were affiliated allegedly collected more than $26 million from "investors" without selling any product or service, and paid older investors with the proceeds of the money collected from the newer investors.

In early 1996, the SEC filed a civil action against Bennett Funding Group, its chief financial officer, Patrick R. Bennett, and other companies Bennett controlled, in connection with a massive Ponzi scheme. The companies fraudulently raised hundreds of millions of dollars, purportedly to purchase assignments of equipment leases and promissory notes.

In 1997 the government of Albania officially endorsed a series of pyramid investment funds. When the inevitable end came, the people of Albania, who had lost $1.2 billion, took their protest to the streets in a revolt that toppled the government.

In June 2005, in Los Angeles, California, John C. Jeffers was sentenced to 168 months (14 years) in federal prison and ordered to pay $26 million in restitution to more than 80 victims. Jeffers and his confederate John Minderhout ran what they said was a high-yield investment program they called the “Short Term Financing Transaction.” The funds were collected from investors around the world from 1996 through 2000. Some investors were told that proceeds would be used to finance humanitarian projects around the globe, such as low-cost housing for the poor in developing nations. Jeffers sent letters to some victims that falsely claimed the program had been licensed by the Federal Reserve and the program had a relationship with the International Monetary Fund and the United States Treasury. Jeffers and Minderhout promised investors profits of up to 4,000 percent. Most of the money collected in the scheme went to Jeffers to pay commissions to salespeople, to make payments to investors to keep the scheme going, and to pay his own personal expenses.


Tune in next week, for another exciting episode of "Zero Premium Escapades"!

 

[Guest]

"Holy Department of Labor, Batman! Who would have known InsuranceChick would show up when we got into trouble on our visit to Ali's place to check on Labor Law compliance???"

http://www.youtube.com/watch?v=UhJ7vFXeDDo&mode=related&search=

 

[Crabcake Johnny]

For the benefit of anyone new reading this who is even entertaining the thought of signing up for this - there is no way you can write for any insurance company in this country unless you have an appointment with the company and an appointment is any state you solicit.

If anyone is telling you that you don't need an appointment they are lying. Either that or you will be writing under their number which is not allowed by any carrier.

 

[pat77]

I spent a good deal of time on the phone with someone today who knows Ali and known the industry much longer than most on this board. He said Ali is definitely not driving with a revoked license. In fact, not only can he drive; he is also a pilot. I know people who know him who are working night and day on this with absolutely nothing to gain if it doesn't pan out. I have spent some time mainly on this board. I have not worked night and day and wouldn't if I didn't "know for sure in my mind" that it was real and coming around the corner. By the way, I see a lot of very confident comments about stock and insider trading being a bogus issue. This is not going to be a public traded company. It is one. That is how insider trading works. When this product comes out (if it does) it will drive the stock. That is where insider trading becomes and issue.