Life Settlement and Viatical Settlement News

WEILL’S DAUGHTER’S FIRM TARGETED BY SPITZER
October 28, 2006 — New York Attorney General Elliot Spitzer, having successfully embarrassed former Citigroup chairman Sandy Weill a few years ago, has now taken aim at Weill’s daughter - who runs wealth management firm National Financial Partners.
On Thursday, Spitzer cited National Financial several times in a civil suit filed […]

ALBANY, N.Y. - One of the nation’s leading “life settlement” companies - a business that helps people cash in life insurance policies before they die for a fraction of their value - made “secret payments” to suppress competitive bids and charged high commissions that hurt the policy sellers, New York Attorney General Eliot Spitzer charged […]

Guilty plea expected from head of Lauderdale firm for $1 billion fraud
The former president of a Fort Lauderdale firm accused of cheating investors out of nearly $1 billion is set to plead guilty to securities fraud Monday, according to court files.
Accountant Peter Lombardi, 56, who ran Mutual Benefits Corp. with brothers Joel and Leslie Steinger, […]

Universal Settlements International Inc. (USI), a global leader in the life settlements industry based in Kitchener, Ontario, responded today to a decision from the Ontario Securities Commission (OSC).
The OSC has ruled that under the current provincial regulatory definition, the life settlement products offered by USI are investment contracts and therefore are securities. USI has been […]