According to a Complaint filed by the SEC, at least 4,000 investors were defrauded out of over $100 million in a criminal conspiracy involving the sale of fractionalized interests in life insurance policy settlements in the so-called "ABC Viaticals" case.   Investors were told that they would receive guaranteed returns from 27% to 150% and that their money would be held in an escrow account.  Investors were not told that the promoters had been criminally indicated in connection with another investment scheme and were the subject numerous regulatory complaints.  Ultimately, the SEC obtained an injunction shutting ABC down, but this did not result in the refund of the money lost by the victims of the fraud.  Investors who purchased ABC Viaticals settlements from a brokerage house or insurance agent may be able to recover losses by bringing a claim against the sales agent or affiliated firm, but these victims cannot rely upon the SEC to do that for them, they must hire a competent lawyer with the experience to prosecute the case.  Our firm has that type of experience and we are accepting clients who suffered losses on ABC Viaticals sold by either a brokerage house or an insurance agent.

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