Life Settlement Investors Blame Auditor For $29M Loss

Law360, New York (August 16, 2013, 9:30 PM EDT) -- An insurance reseller sued Rothstein Kass & Co. PC in New Jersey state court Monday, saying the accountant’s lax auditing allowed an insurance broker to steal $6 million in cash and allow the expiration of insurance policies worth $23 million.

CNF II Partners and CNF II-Q LP sued Rothstein over the alleged theft of $29 million in cash and life insurance policies by Progressive Capital Solutions LLC and its principal John Puglisi, claiming that if Rothstein had done a 2010 audit in accordance with generally accepted...
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