Mutual Benefits Counsel Guilty In $837M Insurance Scheme

Law360, Los Angeles (December 4, 2013, 3:42 PM EST) -- Outside counsel for Mutual Benefits Corp. was convicted in Florida federal court Wednesday for his role in the company’s $837 million scam that prosecutors alleged sold bogus life settlement policies to investors in a multilayered, yearslong scheme.

A Florida federal jury convicted Anthony M. Livoti Jr. of one count of conspiracy to commit mail/wire fraud, two counts of mail fraud and one count of conspiracy to commit money laundering. Each carries a maximum sentence of 20 years in prison.

The jury found Livoti not guilty of...
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