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 […]

Joseph Gennaco, 68, of Winthrop, MA, also a resident of Jupiter, Fla., pleaded guilty to 11 counts of wire fraud and 16 counts of mail fraud in connection to an alleged investment scam that ran from 2001 to 2011. He will be sentenced May, 2013. Gennaco was involved with several companies; Crescent Management Group, GCT […]

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 […]