Robert Rex's  Instablog

Robert Rex
Send Message
This blog is written by Robert H. Rex, Esq. who is a securities attorney and a passionate advocate for investors rights. With over 30 years of legal experience, 25 of which have dealt almost exclusively with the recovery of stockmarket and investment losses for mostly elderly clients, he and his... More
My company:
Rex Securities Law
My blog:
Rex Investment Loss Recovery Blog
  • Imperial Holdings Pays $8 Million To Resolve Fraud Probe 0 comments
    May 1, 2012 10:43 AM | about stocks: EMG

    Imperial Holdings, Inc., (IFT) a financial services company headquartered in Boca Raton, FL, announced this week that they will pay $8 million to resolve federal criminal fraud allegations that it failed to prevent employees from making false statements on applications for life insurance for senior citizens.

    Imperial's offices were raided by the FBI in September 2011 and U.S. Justice Department prosecutors alleged that certain employees held seminars to persuade elderly people to take out life insurance policies and made misrepresentations in order to hide the company's role in financing the premiums that unsuspecting purchasers would pay on the policies.

    In addition, as a part of the deal with the Justice Department, Jonathan Neuman, Imperial's chief operating officer and president, has resigned from the board and is no longer an employee.

    The Securities & Exchange Commission served a subpoena on Imperial recently seeking more information on the premium finance business. That investigation continues.

    If you have questions about your brokerage account or about losses you have suffered in the stock market, you may be able to recover those losses. We have been helping investors with investment losses for over 20 years.

    Nationwide representation. Free consultation. 561 391 1900

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: EMG
Back To Robert Rex's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.