Mutual Benefits Exec Gets 15 Years For $837M Scam

Law360, Miami (August 16, 2013, 5:42 PM EDT) -- A Florida federal judge on Friday sentenced former Mutual Benefits Corp. executive Steven Steiner to 15 years' imprisonment for money laundering and obstructing justice in an alleged $837 million insurance investment scam.

   Steiner, MBC's founder and vice president, was found guilty in March of conspiracy to commit money laundering offenses, money laundering, conspiracy to commit offenses against the U.S., and obstruction of justice in connection with a scheme that allegedly lured investors into buying interests in insurance policies covering the terminally ill and seniors....
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