Texas Wins Life Partners Injunction In Securities Fraud Suit
By Lana Birbrair (August 16, 2012, 6:30 PM EDT) -- A Texas judge on Thursday issued a one-day temporary injunction forbidding Life Partners Holdings Inc. from disposing of any assets or destroying any books and records in a suit launched by the Texas attorney general accusing the insurer of selling fraudulent, unregistered securities.
Judge Orlinda Naranjo ordered Life Partners not to transfer or sell any assets or destroy any books or records related to allegations that the company, along with its CEO Brian Pardo and President Scott Peden, sold fraudulent securities until a hearing scheduled for Friday.
The suit, launched Wednesday by Texas Attorney General Greg Abbott, alleges that Life Partners,...
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