Ex-Mutual Benefits President To Pay Investors

Law360, New York (July 26, 2007, 12:00 AM EDT) -- The former president of Mutual Benefits Corp., who has been sentenced earlier this year to serve 20 years behind bars for securities fraud, has agreed to settle a lawsuit brought by investors for at least $1.5 million.

In court documents filed July 17 in the U.S. District Court for the Southern District of Florida, Peter J. Lombardi agreed to cough up the greater part of $1.5 million or all the proceeds from the liquidation of some of his personal and business assets of Commcare Pharmacy, Inc.;...
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