SCOTT PATRICK KLOR (CRD#: 2493369), a former broker with LPL Financial of Fort Mill, South Carolina, was fined $5,000 on April 4, 2019, by the Financial Industry Regulatory Authority Inc.(FINRA) and suspended for 14 months for his alleged involvement in a life or viatical settlement, which was not disclosed to LPL. ("Life settlements" are securities […]

On April 8, 2015, the Securities and Exchange Commission (SEC) charged Los Angeles-based Pacific West Capital Group Inc. and its owner Andrew B. Calhoun IV, of Beverly Hills, with fraud in the sale of "life settlement" investments. ( "Life settlements" are securities which are structured when a life insurance policy "matures" after the insured individual […]

A Texas appeals court reversed a lower-court ruling making the Life Partners Inc.’s life-settlement policies now regulated under state securities laws, which had previously found the policies didn’t qualify. Life Partners Holdings buys the rights to death benefits from the policyholder in exchange for a lump-sum payment. The State of Texas accused Life Partners Holdings […]

The following information was obtained on FINRA's website's 'Disciplinary Actions, January 2012."   Bradley John Delp (CRD #1701698, Registered Representative, Deerfield Beach, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which he was fined $25,000 and suspended from association with any FINRA member in any capacity for two months. The fine must […]

Two men from Houston, Texas, have been sentenced to spend more than 45 years in prison for their role in a massive life settlements fraud scheme writes Darla Mercado in an October 7, 2011, article in InvestmentNews.com. Christian Allmendinger, the co-founder and vice president of A&O Resource Management Ltd., and Adley H. Abdulwahab, a hedge fund […]