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Reply to Life Partners Sued by SEC for Fraud in Life Settlement Deals     
Old 01-04-2012, 05:22 PM   #1
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Life Partners Sued by SEC for Fraud in Life Settlement Deals
Life Partners Sued by SEC for Fraud in Life Settlement Deals - Businessweek

Jan. 4 (Bloomberg) -- Life Partners Holdings Inc. and three top executives are facing U.S. regulatory claims that they defrauded shareholders by systematically understating risk related to the firm’s purchases of life insurance policies.
Shares of Waco, Texas-based Life Partners opened at $4.07, 36 percent below yesterday’s close, after the Securities and Exchange Commission said Chairman and Chief Executive Officer Brian D. Pardo, President and General Counsel R. Scott Peden and Chief Financial Officer David M. Martin participated in a scheme that misled investors about the firm’s profit potential.
“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.
The company, which buys rights to death benefits from policyholders in exchange for lump-sum payments, knowingly underestimated life expectancies used in transactions from 2007 to 2011, the SEC said in its statement. Pardo sold $11.5 million of stock and Peden sold shares valued at $300,000 while privy to inside information, the agency said.

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Old 01-04-2012, 05:30 PM   #2
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Mark on Life Partners Sued by SEC for Fraud in Life Settlement Deals
 
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Re: Life Partners Sued by SEC for Fraud in Life Settlement Deals
I use to get mail from them all the time.
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Old 01-05-2012, 11:18 AM   #3
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Re: Life Partners Sued by SEC for Fraud in Life Settlement Deals
Life Partners..."not that there is anything wrong with that"
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Old 01-11-2012, 11:10 AM   #4
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lifesettlementadvisor on Life Partners Sued by SEC for Fraud in Life Settlement Deals
 
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Re: Life Partners Sued by SEC for Fraud in Life Settlement Deals
Pardo and Peden also were charged with insider trading.

As a note - these charges are focused on fractional life settlement investments and not life settlements themselves.

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Old 03-07-2012, 03:16 PM   #5
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Re: Life Partners Sued by SEC for Fraud in Life Settlement Deals
.

I've had a couple of opportunities to bring up Life Settlements, but I've heard negative things and swerved away. Among other things, I've heard about lawsuits and shady providers.

What's the latest on these things in general?

.
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Old 03-07-2012, 04:18 PM   #6
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Re: Life Partners Sued by SEC for Fraud in Life Settlement Deals STIBROKER is the thread starter for: Life Partners Sued by SEC for Fraud in Life Settlement Deals

Originally Posted by RyanCO View Post
.

I've had a couple of opportunities to bring up Life Settlements, but I've heard negative things and swerved away. Among other things, I've heard about lawsuits and shady providers.

What's the latest on these things in general?

.

Life Partners Holdings, Inc. Announces Quarterly Dividend - CNBC

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Old 03-08-2012, 12:34 PM   #7
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lifesettlementadvisor on Life Partners Sued by SEC for Fraud in Life Settlement Deals
 
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Re: Life Partners Sued by SEC for Fraud in Life Settlement Deals
the whole issue with life partners and their troubles are around the investment product and not life settlements for insureds.

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Send me a PM to find out how life settlements can help your clients!

"Do your duty in all things. You cannot do more, you should never wish to do less" ~~Robert E Lee
  Reply With Quote to Life Partners Sued by SEC for Fraud in Life Settlement Deals
Old 09-09-2012, 06:44 AM   #8
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Re: Life Partners Sued by SEC for Fraud in Life Settlement Deals
it is the nice work man..
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Old 04-16-2013, 12:55 PM   #9
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Re: Life Partners Sued by SEC for Fraud in Life Settlement Deals
In defense of Life Partners they have won every time the sec has messed with them. The state of Texas also tried to seize the company and lost. I have the whole list of all the polices that matured last year and most paid around 20%
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Old 04-17-2013, 11:19 PM   #10
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Life Partners Sued by SEC for Fraud in Life Settlement Deals Re: Life Partners Sued by SEC for Fraud in Life Settlement Deals
Well, Life Partners has been around a long time. Perhaps this is a new phase they are going through since the public is more familiar with LS.
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