Pruco Hits Infinity With Fraud Suit Over $10M Life Policy

Law360, New York (July 12, 2010, 2:35 PM EDT) -- Pruco Life Insurance Co. has lobbed fraud, civil conspiracy, breach of contract and negligent misrepresentation claims at Infinity Financial Group LLC and its principals, claiming the broker general agency fraudulently procured a $10 million life insurance policy solely for the purpose of flipping the asset on the secondary market.

Pruco seeks both compensatory and punitive damages from the defendants, as well as a declaration that the policy at issue is void due to the alleged fraud and that Infinity is estopped from seeking a return of...
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