are there other Life Partners suckers here ?

[Red Oak]

That can't lose 'Investment' that was hawked a few years back that has since turned out to be very well known scam ?

Well if you are you are in for another unpleasant surprise, a letter from that SOB Brian Pardo billing you hundreds of dollars a year to 'minister' your near worthless investment.

I hope anyone associated with LPHI gets Ebola !

[GFB]

..say WHAT??

[planosteve]

I think this is what he is talking about.

http://www.ripoffreport.com/r/life-partners-inc/waco-texas-76712/life-partners-inc-viatical-life-insurance-waco-texas-543093

[Red Oak]

You have the gist of it Plano.

[crocmommy]

My stepfather dragged my mom down there kicking and screaming to one of their presentations. Not sure why he decided against it, but thankfully he didn't invest.

[GFB]

My stepfather dragged my mom down there kicking and screaming to one of their presentations. Not sure why he decided against it, but thankfully he didn't invest.

When it comes to investing.."presentations" are a red flag.

[Red Oak]

I should have my ass whipped for being too trusting.

I only put a small percentage in, some people but 25 to 50 percent or more of their retirement into the scam.

[Sangersteve]

The only reason I didn't buy into it was the yuckey factor

[crocmommy]

My stepfather dragged my mom down there kicking and screaming to one of their presentations. Not sure why he decided against it, but thankfully he didn't invest.

When it comes to investing.."presentations" are a red flag.

My stepfather had been laid off from his job and the severance money was burning a hole in his pocket. Mom and my brother also had to talk him out of handing over money twice to recruiters when he wasn't finding a job. After, He invested in another business I won't mention in detail and lost his investment and peace of mind. But at least he managed to hang on to most of his money and managed to find another job in his industry. Then he got lung cancer and died a year later. I'd day he had a rough go the last few years of his life.

[FlashM]

The whole broad concept of viaticals reeks. Who thought up this nastiness?

I think it's all inhuman and ghoulish and you could never convince me the vulturish practice benefits anyone.

[crackertoes]

I didn't buy into it because it just didn't make good sense.

It's all based on when people will die. So when HIV came, along and people started dying from it, it seemed to be a no-brainer to encourage cash-outs of the soon-to-be-departed. But then the drugs started working. And some worked very very well. And now, HIV isn't necessarily a death sentence. Ditto with other major diseases... treatments are constantly evolving producing longer life spans. So when they sell you an "investment" and it's based on someone's health condition, unless it's something like Stage 4 pancreatic cancer, I would be suspicious.

[planosteve]

The fact that that Slimeball investment guy on the radio, Lavine, was promoting it was enough to turn me off.

[Red Oak]

An update for LPHI Suckers..... A Federal Judge sobered up and slapped the LPHI Thieves with a large Fine; much more that the thieving company is worth.


http://www.dallasnews.com/investigation ... future.ece

[crocmommy]

An update for LPHI Suckers..... A Federal Judge sobered up and slapped the LPHI Thieves with a large Fine; much more that the thieving company is worth.


http://www.dallasnews.com/investigation ... future.ece

Don't have time to read the article, but are they going to use the money from the fines to pay back the investors?

[Red Oak]

I don't believe so - as Pardo has drained LPHI via dividends paid into an "Offshore Trust".

The Penalties far exceed any value in LPHI or LPI.

Next up hopefully, are actions against the Companies that retailed this crap.....

[PlanoSooner]

My stepfather dragged my mom down there kicking and screaming to one of their presentations. Not sure why he decided against it, but thankfully he didn't invest.

When it comes to investing.."presentations" are a red flag.

yup

[Red Oak]

Or any investment advertised.....

[Red Oak]

Well that sorry scum sucking low life pirate Brian Pardo and Company declared Chapter 11 Bankruptcy today.

The SEC wanted Receivership, which I believe would have been better for the investors in the Life Insurance Policies. This will give Pardo some breathing room to protect himself from creditors and possibly other pending lawsuits.

This is Pardo's second time around getting in trouble with the SEC, his first time back in the 80s was with American Solar King.

This may mean that all of you that got suckered into buying this "Can't lose investment" have lost it all.



http://www.bloomberg.com/news/2015-01-2 ... cmpid=yhoo

[Red Oak]

If any of you are on the McCarthy Facebook thingy, please post this link as I am sure there are some fellow sucker there.

[Red Oak]

Life Partners seeks bankruptcy protection after $47M fine
3:00 PM ET, 01/20/2015 - Associated Press

NEW YORK (AP) — A month after it was fined $47 million for misleading investors, Life Partners Holdings said Tuesday it filed for Chapter 11 bankruptcy protection.

The Securities and Exchange Commission filed a lawsuit against the company in 2012, saying that Life Partners Holdings and three executives misrepresented revenues and public information. In December a judge ruled against the company, along with Chairman and CEO Brian Pardo and General Counsel Scott Peden, and levied $46.9 million in penalties.

The Waco, Texas-based company said it is appealing the judgment and plans to stay in business. Life Partners Holdings Inc. said it has $18.9 million in assets.

Life Partners is a "life settlement" company, which means it buys life insurance policies from policyholders in return for a lump-sum payment. Investors then buy the right to collect the death benefits, but must continue paying premiums until the original policyholder dies.

Shares of Life Partners fell 13 cents to 40 cents in afternoon trading.