Convicted A&O Fraudster Should Repay $102M: Feds

Law360, New York (August 23, 2011, 7:30 PM EDT) -- Federal prosecutors on Tuesday recommended that A&O Resource Management Ltd. co-founder Christian M. Allmendinger repay investors the full $102 million they lost in an insurance investment scheme.

Allmendinger faces a life sentence after being convicted on seven fraud and money laundering charges for his role in a scheme that targeted 800 victims in the U.S. and Canada, most of whom were elderly. Prosecutors alleged that A&O, which marketed life settlement investment products, lied about A&O's prior successes, its size and office locations, and the risks of...
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