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Lincoln National Life Insurance, other carriers and multiple state insurance departments investigated Imperial Holdings during the past several years over its role in misrepresentations on insurance applications before the federal probe of Imperial came to light, according to a lengthy court deposition by a Lincoln investigator. More
On the heels of U.K. financial regulators releasing guidance to curtail life settlement investment sales to retail investors, Ireland is now taking a sharp look at the asset class and regulators say it may write new rules regarding securitized products. More
Kurt Gearhart, managing director of the longevity markets group at Credit Suisse, left his job at the bank to accept a position as chief executive of life expectancy provider 21st Services.
Gearhart will replace Jack Kettler, who is retiring, 21st Services said in a statement. More
Life Partners Holdings, which is battling fraud allegations from the Securities and Exchange Commission, reported a loss of $3.12 million for its fiscal year ending Feb. 29, as its revenue plunged by 68%. More
The New York Supreme Court in Manhattan extended a sheriff's property levy against Progressive Capital Solutions, which is accused of stealing $28 million in assets from a life settlement portfolio, to Aug. 15. More
Texas insurance regulators have scheduled a stakeholder meeting for May 11 to receive comments on proposed rules to implement the state's new life settlement law, which took effect Sept. 1. More
Huet Capital, sponsor of the HC I Life Settlement Fund, has changed its name to Host Capital, the London-based company said. More
A federal judge in Florida ordered an attorney who is currently serving five years in prison for his role in the $1 billion Mutual Benefits fraud case to not further violate U.S. securities laws. More
Minor Vargas Calvo, president and majority owner of Provident Capital Indemnity, was convicted of leading a fraudulent longevity bond scheme that affected more than 2,000 investors. More
A new, international trading platform for tertiary policies or portfolios has been launched, and is expected to see its first deals this summer. More
Adam Balinsky has left his position as president of life settlement asset manager Caldwell Life Strategies and formed a new life settlement firm. More
The ARM Asset-Backed Securities board of directors has extended the April 27 deadline for restructuring bids after receiving four new expressions of interest. More
A Luxembourg court ordered the liquidation of cash-strapped Lifemark, the Commission de Surveillance du Secteur Financier (CSSF) said.
The bond issuer has been unable to raise money and has struggled to pay life settlement portfolio premiums and bond coupons since its primary distributor, Keydata Investment Services, was shut down by U.K. financial regulators in 2009. More
At the behest of Fortress Investment Group, a Delaware state legislator introduced a bill May 9 that would prevent insurers from keeping premiums if they rescind policies. More
A Texas state court judge has agreed to hold off on deciding whether the assets of Retirement Value should be put in Vida Capital's fund or a competing fund to give parties in the dispute a chance to resolve the matter through mediation. More
Ken Morris, who resigned from Global Wealth Capital Group earlier this year, has begun consulting for Reliant Life Shares, a Beverly Hills, Calif.-based firm offering fractional investments in life settlements to accredited investors. More
Hawaii would become the 40th state to regulate the life settlement market if Gov. Neil Abercrombie signs legislation passed by the Senate and House of Representatives on May 1. More
The publicly traded shares of Imperial Holdings are likely to rebound, investors said, after the company announced a settlement with the federal government that will allow Imperial to avoid being prosecuted on criminal fraud charges. More
Life settlement finance company Imperial Holdings agreed to pay an $8 million fine and to get out of the premium finance business under a settlement where the company will avoid criminal prosecution for alleged misrepresentations on life insurance applications and securities fraud. More
Coventry hosted the 12th World Summit of Nobel Peace Laureates opening night cocktail reception and dinner April 23 in Chicago featuring talks by former President Bill Clinton, Chicago Mayor Rahm Emanuel and Illinois Gov. Pat Quinn. More
The New Zealand Superannuation Fund made an undisclosed investment in the Apollo Financial Credit Opportunities Fund I in February. More
A new life settlement policy listing website, LifeSetListings, was launched April 23 by a New York life settlement broker.
Peter Levine, chief executive and founder of the business, said the website strictly provides a listing of available policies on the market and is not intended to function as an online trading site. More
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