Globe Life/AIL Accused of Massive Fraud

[billyb]

I hope they don't ask for my lump sum pension payment back.

 

[DonP]

Try canceling an ail policy . Took 2 months and 5 calls to finally get it cancelled . There scum . Wish I scalped glove life stock as it ran 50% off the bottom in 24 hrs

 

[DayTimer]

A short seller with a large public following issues a report full of "allegations" after accumulating a large short position and locked in massive profits when their "research" was released and then picked up by FinTwit and then the mainstream press.

I don't mean to defend Globe Life; however it amazes me how quickly this hit piece has been perceived as though it were a grand jury indictment.

It may all turn out to be true. Or, none of it may be true.

 

[goillini52]

A short seller with a large public following issues a report full of "allegations" after accumulating a large short position and locked in massive profits when their "research" was released and then picked up by FinTwit and then the mainstream press.

I don't mean to defend Globe Life; however it amazes me how quickly this hit piece has been perceived as though it were a grand jury indictment.

It may all turn out to be true. Or, none of it may be true.

I've seen the stuff about that agency before...probably over a year ago.

 

[Cenla Agent]

Who would buy their crap unless they had been lied to, or were mentally incompetent? Same goes for Bankers.

 

[Cenla Agent]

A short seller with a large public following issues a report full of "allegations" after accumulating a large short position and locked in massive profits when their "research" was released and then picked up by FinTwit and then the mainstream press.

I don't mean to defend Globe Life; however it amazes me how quickly this hit piece has been perceived as though it were a grand jury indictment.

It may all turn out to be true. Or, none of it may be true.

Check this out:

Fuzzy Panda sent people undercover to apply for jobs at AIL agencies. They reported back that one recruiter had a criminal record, another suggested the applicant use a fake address to avoid seeking a license in a state where standards were high, and a third appeared to offer cocaine if the recruit had great sales in his first week.

Short-seller sends Globe Life shares plunging 53% as insurance giant calls report 'defamatory,' threatens legal action

Fuzzy Panda report describes Globe Life subsidiary AIL as a "pyramid scheme" with "exhaustive array of financial malfeasance."

www.businessinsider.com

What kind of monster thread would we have created about this back in the Wild West days when this board was unmoderated?

"Hey kid, it's your choice. We make you Regional Manager after a week of great sales, or you can have a couple of lines of blow."

 

[rousemark]

Aren't these the guys who said they were from the Union and had free insurance for Union members?

I always wondered who they got the member's name and contact info from, and who got paid.

The unions provided them with their rosters. Of course the union was provided with compensation.

 

[rousemark]

My first contact with AIL was in the late 70s. They did not have agood reputation even back then.

 

[myinsurebiz]

I read the entire report. If just a little is factual - peeps could be going to prison . . .

Globe Life (GL): Executives Disregarded Wide-Ranging “Insurance Fraud” While They Received Millions in Undisclosed Kick-Back Scheme - Fuzzy Panda Research

Globe Life (GL) is an $10 billion Life and Health Insurance Company that sells policies through multiple subsidiaries. The biggest subsidiary is American Income Life (AIL), which accounts for 39% of total premiums; and 50% of total underwriting profits. We uncovered extensive allegations of...

fuzzypandaresearch.com

 

[myinsurebiz]

https://www.berkshirehathaway.com/letters/2023ltr.pdf

Page 14 - 2nd to last paragraph.