Jury Finds Texas Man Guilty Of $100M Insurance Fraud

Law360, New York (June 10, 2011, 7:01 PM EDT) -- A federal jury in Virginia on Friday found a Texas businessman guilty of fraud for his role in a $100 million scheme to sell life insurance settlements to investors.

The jury needed less than one day to find Adley Abdulwahab, a Spring, Texas, man who helped run an investment company called A&O Resource Management Inc., guilty of wire fraud, securities fraud, money laundering and conspiracy.

“Today's quick verdict found Mr. Abdulwahab guilty of a $100 million fraud and stealing the life savings of elderly retirees and...
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