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23 results found

Article

Drinker Biddle & Reath LLP | USA | 11 Feb 2016

Life Settlement Disclosure Legislation

What are an insurer’s duties to insureds about disclosing the possibility of a life settlement? At least three recent cases have addressed an

Article

Drinker Biddle & Reath LLP | USA | 17 Nov 2015

SEC seeks to bring down Ponzi scheme selling life settlements

On November 10, 2015, the Securities and Exchange Commission ("SEC") filed a complaint in the Northern District of Georgia against James Torchia and

Article

Drinker Biddle & Reath LLP | USA | 28 Oct 2015

Seventh Circuit slams STOLI scheme, permits insurer to retain premium and recover attorneys' fees

Last week, the United States Court of Appeals for the Seventh Circuit issued an opinion affirming summary judgment in favor of Ohio National Life

Article

Drinker Biddle & Reath LLP | USA | 2 Oct 2015

Debtor sues lenders for alleged violations of the Fair Credit Reporting Act

On September 18, 2015, Margaret M. Okamoto ("Plaintiff") filed a complaint (the "Complaint") in The United States District Court for the District of

Article

Drinker Biddle & Reath LLP | USA | 2 Sep 2015

Pension factoring companies in Regulator crosshairs

For two decades, factoring companies buying structured settlement periodic payments in exchange for heavily discounted lump sums have done their best

Article

Drinker Biddle & Reath LLP | USA | 20 Apr 2015

SEC pursues another fractional interest company

On April 7, 2015, the Securities and Exchange Commission (SEC) filed a complaint in the United States District Court for the Central District of

Article

Drinker Biddle & Reath LLP | USA | 20 Nov 2014

Indemnification and reimbursement sought from insurers based on allegedly fraudulent funding program: Fifth Third Bancorp v. Ace Insurance Company

In this lawsuit, Fifth Third Bancorp and Fifth Third Bank (collectively, the “Bank”) seek indemnification and reimbursement under three financial

Article

Drinker Biddle & Reath LLP | USA | 10 Oct 2014

Complaint filed for alleged insurance fraud scheme on secondary market

On October 3, 2014, a lawsuit captioned Visión en Análisis y Estrategia, S.A. De C.V., et al. V. Karl Andersen, et al., was filed in the Southern

Article

Drinker Biddle & Reath LLP | USA | 4 Aug 2014

More arrests for alleged insurance fraud

Just weeks before the sentencing of three insurance producers for insurance fraud and STOLI-related conduct in the Southern District of New York

Article

Drinker Biddle & Reath LLP | USA | 1 Aug 2014

Convictions of life insurance producers for mail and wire fraud result in lengthy sentences and millions in restitution

Earlier this week, the United States District Court for the Southern District of New York sentenced Michael Binday, James Kergil, and Mark Resnick

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