We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SEC Says Insurance Co. Fraudulently Sold Life Settlements

Law360, New York (April 7, 2015, 7:10 PM EDT) -- The Securities and Exchange Commission in California federal court Tuesday sued a Los Angeles-based insurance company and its owner for allegedly defrauding investors in the sale of fractionalized interests in universal life insurance policies, known as “life settlements.”

Life settlements are created by selling an interest in life insurance policy to a third party that will then receive a portion of the death benefit when the insured person dies.

According to the SEC’s complaint, Pacific West Capital Group Inc. and its owner, Andrew B. Calhoun IV, used proceeds from the sale of new life settlements to continue funding the investments they...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Subscribers Only

Date Filed

April 7, 2015

Law Firms

Government Agencies