Life Partners Back on Hook for Fraud in Life Settlement Scam

Life Partners Holdings Inc. and two senior officials are facing revived securities claims for their role in a scam involving transactions in life insurance policies that earned them hefty commissions (SEC v. Life Partners Holdings, Inc., 5th Cir., No. 14-51353, 4/21/17).

There was enough evidence to conclude that the company and its executives misled investors about the likelihood of profiting from their investments, Judge James L. Dennis of the U.S. Court of Appeals for the Fifth Circuit said in affirming the district court’s judgment. The appeals court also revived the SEC’s allegations that LPHI’s public filings were materially ...