Wednesday, April 14, 2010
Insurance commissioner moves against life-settlement firm
Texas Insurance Commissioner Mike Geeslin has taken action to stop a New Braunfels man and his investment business from engaging in alleged fraudulent conduct related to sales of life insurance settlement contracts.
Late last week, the commissioner issued a cease-and-desist order against Richard Gray and his business Retirement Value, accusing Gray of a range of insurance law violations for his role in selling investments in contracts that are paid off when a person with life insurance dies. Investors were promised returns of up to 16.5 percent...
Statesman: Insurance commissioner moves against life-settlement firm
Late last week, the commissioner issued a cease-and-desist order against Richard Gray and his business Retirement Value, accusing Gray of a range of insurance law violations for his role in selling investments in contracts that are paid off when a person with life insurance dies. Investors were promised returns of up to 16.5 percent...
Statesman: Insurance commissioner moves against life-settlement firm
Permalink posted by markw @ 5:06 AM 
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