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SEC Sues Men Indicted In Life Insurance Scheme

Law360 (November 29, 2006, 12:00 AM EST) -- The Securities and Exchange Commission has filed suit against an allegedly fraudulent life insurance company and its two owners over millions of dollars of investors’ money.

In the suit filed in U.S. District Court for the Northern District of Texas, the SEC claims that Keith and Jesse LaMonda misrepresented their company ABC Viaticals Inc. and the bonded life settlement investments that it offered its clients.

The SEC estimated that ABC had $9.7 million in premium liabilities as of October 1, but there was a $4.4 million...
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