The insurance carrier for Miami’s Spear Safer CPAs & Advisors has agreed to pay $3.5 million to the court-appointed receiver of Mutual Benefits to settle allegations the accounting firm was negligent in its audits of the viatical and life settlement company.
M. Glenn Spear, Spear Safer’s managing partner, said his firm did nothing wrong.
‘’We did our […]
Boston Ventures and Genstar Capital Invest in 21st Services
BOSTON & SAN FRANCISCO–(BUSINESS WIRE)–Genstar Capital, LLC and Boston Ventures announced today a majority investment in 21st Services, in partnership with management. The Minneapolis, Minnesota based Company is a leading provider of mission critical, life expectancy information that is currently used in the life settlement industry, […]
Boston Ventures and Genstar Capital Invest in 21st Services
BOSTON & SAN FRANCISCO–(BUSINESS WIRE)–Genstar Capital, LLC and Boston Ventures announced today a majority investment in 21st Services, in partnership with management. The Minneapolis, Minnesota based Company is a leading provider of mission critical, life expectancy information that is currently used in the life settlement industry, […]
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 […]
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