10% to 12%guaranteed yearly return A&O promised on bonded life settlements
A Houston firm promised a guaranteed 10% to 12% a year on bonded life settlements; some 800 mostly elderly investors put in about $100 million, and two men got 45 and 60 years.
The firm went bankrupt in 2009 after failing to pay premiums on the underlying policies.
Source: InvestmentNews. Read more: life settlement fraud · case file
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