Looks like some more bad news regarding investing in life settlements.
The U.S. filed civil and criminal charges against New York hedge-fund manager Edward T. Stein, accusing him of running a “classic Ponzi scheme” that moved more than $55 million through accounts while preying on friends and acquaintances.
His used a life settlement hedge fund labeled DISP LLC to create the fraud. We cannot find out much about this LLC or if any policies were ever purchased.
Read the complete article over at Life Settlement Fraud:
Life Settlement Ponzi Scheme
We are also not sure if it was only investors in the New York area or on a national level.
