David Louis Bocchino (CRD #3168609, Registered Representative, Bradenton, Florida) was fined $7,500, which includes disgorgement of $2,850 in commissions, and suspended from association with any FINRA member in any capacity for three months. Without admitting or denying the findings, Bocchino consented to the described sanctions and to the entry of findings that he became licensed […]

On July 25th., 2012, the U.S. Attorney's Office in Baton Rouge, La.,  charged Timothy R. Schlatre with mail fraud, money laundering and asset forfeiture for his alleged role in a life insurance scam. Schlarte was an agent for New York Life Insurance Co. and Lincoln National Corp. He allegedly made hundreds of thousands of dollars in commissions by selling […]

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In an InvestmentNews.com article from March 6, 2012, Darla Mercado writes that the Lincoln National Life Insurance Co. will pay $5 million in death benefits  for a life insurance policy the insurer had contended was fraudulent. The jury in the U.S. District Court for the Southern District of Florida on Friday found in favor of plaintiff […]

In an article for InvestmentNews.com, on February 1st, 2012, Mark Schoeff Jr. writes that in a market defined by low interest rates, investors are searching for higher returns. But brokers better be careful how they try to deliver those results, according to their primary regulator. In a 16 page letter posted on its website, the Financial Industry […]

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 […]

Clyde Allen Benninghoff (CRD #18463, Registered Principal, Amelia Island, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Benninghoff consented to the described sanction and to the entry of findings that he facilitated securities […]

It was announced that a federal court decision in Pennsylvania has given a win for life settlement investors, deflating carriers' argument that it is permissible for an insured person to apply for a life settlement with the express intent to sell it to a third party, writes Darla Mercado in an InvestmenNews.com article from October 12, 2011. […]

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 […]