Ex-MBC Exec Convicted Of Hiding Spoils From $837M Scam

Law360, Miami (March 01, 2013, 4:52 PM ET) -- A Florida federal jury on Thursday convicted a former Mutual Benefits Corp. executive of money laundering and obstructing justice related to an $837 million scam that allegedly lured investors into buying interests in insurance policies covering the terminally ill and seniors.

A jury convicted Steven Steiner, also known as Steven Steinger, on 19 of 54 counts against him, including conspiracy to commit money laundering offenses, money laundering, conspiracy to commit offenses against the U.S. and obstruction of justice, according to the U.S. Attorney's Office for the...
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