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The Internet has tens of dozens of ads from viatical and life settlement providers. Most of these companies are not licensed, and it is dangerous to deal with them. Seniors are a new target for fraud--as owners of policies.
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www.viatical-expert.net/
www.viatical-expert.net/
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Five years after their company was shut down, four officials of a viatical and life settlement company have been indicted. ... In a 25-count indictment, Joel Steinger, Steven Steiner, Michael McNerney and Anthony Livoti Jr. of Mutual Benefits Corp. were charged with, among other things, conspiracy, mail fraud,
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southflorida.bizjournals.com/southflorida/stories/2009/...
southflorida.bizjournals.com/southflorida/stories/2009/01/05/daily8.html
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Life Settlement and Viatical fraud news and information. ... Headlines for Viatical fraud are dominated by Stranger Originated Life Insurance (STOLI), Ponzi schemes and other types of investor fraud...
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www.betterviaticalsettlement.com/viatical-fraud.html
www.betterviaticalsettlement.com/viatical-fraud.html
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The policies are then purchased by viatical settlement companies, which in turn sell them to unsuspecting third-party investors. The insurance industry is the biggest victim of this fraud and could incur huge losses (conservatively estimated at $1 billion+) within the next few years.
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www.quackwatch.com/02ConsumerProtection/viaticalfraud.h...
www.quackwatch.com/02ConsumerProtection/viaticalfraud.html
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Department (NHID) for informational purposes. The NHID does not warrant the completeness, timeliness or accuracy of the information contained herein. 2006; Viatical Fraud; Information; State of New Hampshire; Insurance Department;
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www.nh.gov/insurance/consumers/documents/viaticalfraud....
www.nh.gov/insurance/consumers/documents/viaticalfraud.pdf
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A Florida Grand Jury in 2000 found as much as 40-50% of the life insurance policies viaticated by viatical settlement providers may have been procured by fraud. The Securities and Exchange Commission has taken action against one company that allegedly defrauded 30,000 investors of $1 billion.
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www.aarp.org/money/credit_debt/a2002-10-01-FraudsViatic...
www.aarp.org/money/credit_debt/a2002-10-01-FraudsViaticals.html
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MIAMI, FLA—Four individuals, including two attorneys, have been indicted on charges stemming from their involvement with Mutual Benefits Corp., a viatical and life settlement company that raised more than $1.25 billion from more than 30,000 investors before being shut down by federal regulators in May 2004.
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www.northcountrygazette.org/2009/01/05/viatical_fraud/
www.northcountrygazette.org/2009/01/05/viatical_fraud/
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A viatical settlement is, simply stated, a method for an insured person with an abbreviated life expectancy to ... Viatical-Fraud.com; You can't take it with you...but don't get taken...
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www.viatical-fraud.com/
www.viatical-fraud.com/
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ORLANDO, FLA—Two brothers have each been sentenced to more than 10 years in federal prison in connection with their operation of Accelerated Benefits Corporation, a viatical settlement company formally located in Orlando.
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www.northcountrygazette.org/2008/01/05/trio-sentenced-i...
www.northcountrygazette.org/2008/01/05/trio-sentenced-in-viatical-fraud-schiavo-case-question/
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