Life Settlement and Viatical Settlement News

A Florida District Court judge has entered final judgments in the SEC’s case against a former executive and several companies involved in a fraudulent viatical investment scheme. The scam defrauded roughly 39,000 investors out of more than $1 billion.
The court’s final judgments were levied against Ft. Lauderdale-based Mutual Benefits Corporation (MBC), a viatical settlement provider, […]

By Tiffany Kary and Jenny Strasburg
June 21 (Bloomberg) — Ritchie Capital Management Ltd. sought bankruptcy protection for two Dublin-based funds after they lost more than $700 million on life insurance investments.
The hedge-fund manager asked the U.S. Bankruptcy Court in Manhattan to approve a $17 million interim loan from ABN Amro Holding NV as part of […]

Boca philanthropist Barry Kaye will not face formal state investigation
By Scott Travis
South Florida Sun-Sentinel
Posted June 20 2007

The state will not launch a formal investigation into Boca Raton philanthropist Barry Kaye’s relationship with a company accused of defrauding the elderly, an official from the Department of Financial Services said Tuesday.
The department conducted a preliminary review of […]

Statement: Life Insurance Finance Association Will Oppose State Adoption of Revised NAIC Viatical Settlement Model
ATLANTA–(BUSINESS WIRE)–The National Association of Insurance Commissioners (NAIC) has adopted amendments to its Viatical Settlements Model Act. “This action was taken despite the fact that the model was poorly drafted, did not meet the stated objectives of the regulators and was […]

Secondary Life Capital Expands Life Settlement Acquisition Opportunities
WASHINGTON D.C. — Secondary Life Capital, LLC (“SLC”) announced today that the State of Mississippi has granted their life settlement provider license.  In addition to Mississippi, SLC was recently awarded a life settlement provider license in both Texas and Tennessee. Founded in 2003, the Washington DC based […]