are there other Life Partners suckers here ?

[millergrovesue]

I thought one couldn't file for bankruptcy if they were filing for protection from those they had defrauded. I don't know how they are going to get away with this.............well, guess they will claim their intent was not fraud.

[Red Oak]

They may not get away with it.....but they have been getting away with fraud for years.

As near as I can figure, only about 10% of the "Death Bonds" have matured in the last 10 or 12 years.

Now these policies were sold, by claiming that the insured had 2-4 years of life expectancy, and that this was a method the policy owner with not long to live could recoup some of their insurance policy death benefit when they could us it.

It was a scam from the beginning of course as the Podiatrist they hired to do the Life Expectancy was in on the fraud, and didn't get paid unless he said the insured had only a few years left. This was just the tip of the wrong doing ice berg with the LPHI Pirates.

Every one involved knew it was a fraud; except the investors of course.

[millergrovesue]

There's gonna be some fancy footwork done by a bunch of attorneys on this one. Here's hoping the opposition has been taking lessons from Dancing With The Stars.

[Red Oak]

The LPHI Pirates have been given a notice of De-Listing from NASDAQ.

Hopefully all involved with this fraud will be severely punished, on Earth and in the Hereafter.

Life Partners Holdings, Inc. Announces Receipt of NASDAQ Letter Relating to Non-Compliance with Listing Rules
11:41 AM ET, 01/26/2015 - Business Wire

WACO, Texas--(BUSINESS WIRE)--Jan. 26, 2015-- Life Partners Holdings, Inc. (Nasdaq GS: LPHI) announced today that on January 20, 2014, the Company received a letter from the staff of NASDAQ advising that, because the Company filed for protection under Chapter 11 of the U.S. Bankruptcy Code, the Company’s securities will be delisted from the NASDAQ Stock Market pursuant to the discretionary authority of NASDAQ under Listing Rules 5101 and 5110(b) and IM-5101-1. The letter further provided that the Company may request a hearing to appeal the Staff’s determination and that such hearing request will stay the suspension of Company’s securities pending a decision on the appeal. In addition, quotation information for the Company’s common stock will include an indicator of the Company’s non-compliance, and the Company will continue to be included in a list of non-compliant companies on the NASDAQ website.

Unless the Company requests an appeal of this determination, trading of the Company’s common stock will be suspended at the opening of business on January 29, 2015. The Company intends to request a hearing to appeal the delisting determination and address the concerns of NASDAQ arising out of the Company’s filing for Chapter 11 protection. No assurance can be given that the appeal will be successful. If the appeal is not successful, the Company’s securities may be immediately eligible to be quoted on the OTC Bulletin Board (the “OTCBB”) or the Pink Sheets if a market maker makes application to register in and quote such securities in accordance with SEC Rule 15c2-11 (a "Form 211") and the application is cleared. Only a market maker, not the Company, may file a Form 211.

Life Partners Holdings, Inc.is the parent company of the world’s oldest company engaged in the secondary market for life insurance, commonly called “life settlements.” Since its incorporation in 1991, Life Partners, Inc. has completed over 162,000 transactions for its worldwide client base of over 30,000 high net worth individuals and institutions in connection with the purchase of over 6,500 policies totaling over $3.2 billion in face value.

[Red Oak]

The thieves have been De-Listed from the NASDAQ, Pardo and Peden resigned a few weeks ago and Pardo has signed back on as a "Consultant".

His Crawfish Eyed Daughter Colette Pieper is now Captian of the Ship that is going under.

Rumor is that the Federal Judge will appoint a Trustee to try and sort this big mess out, Fraction Investors will be lucky to get back 10 cent on the dollar of this scam.

Hopefully they will next go after the slicksters that sold this crap......

If one of you face bookers would post this over on the old DD Facebook thing, for the victims their I would appreciate it.

[millergrovesue]

Had to search for a picture as I wasn't sure what crawfish eyes looked like.............'cept on a crawfish. The one picture I found was of an attractive woman, to my eyes, who looks really good for 60, though I suspect it may not be a recent picture.

Interesting salary boost for Colette
Salary 2013 - $44,423.00 2014 -$246,457.00

[Red Oak]

I do admit to being just a little biased against that group of Waco fraudsters, but she has Crawfish Eyes in my opinion.

[millergrovesue]

I do admit to being just a little biased against that group of Waco fraudsters, but she has Crawfish Eyes in my opinion.

............I can kinda see what you mean.

I'd love to be making that kind of money, especially as the head of a sinking ship. However I'd have problems sleeping at night and looking at myself in the mirror.............and it wouldn't be because of my crawfish eyes. All in all I'd rather be broke and have a clear conscience than wealthy because I screwed others.

[Red Oak]

Sue - I agree with you......

[Red Oak]

And not because it is failing business, lots of honest people go broke, but because they are fraudsters.

[Red Oak]

Well a little good news !
Pardo is getting the heat turned up on his slimy ass.

By MIKE COPELAND mcopeland@wacotrib.com

Federal law enforcement officials Monday confiscated vehicles belonging to Brian Pardo, founder and longtime chief executive of Life Partners Holdings, a company facing $46.9 million in fines for misleading investors about life insurance policies they had purchased from clients who were terminally ill.

Judith Burns, a spokeswoman for the Securities and Exchange Commission, confirmed during a phone interview that vehicles belonging to Pardo had been seized in response to a ruling by U.S. District Court Judge James Nowlin ruling that included a $6.1 million civil penalty Pardo was ordered to pay.

She said the U.S. Marshals Service acted on behalf of the SEC in carrying out the seizures, but said she could provide no details about vehicles taken.

Pardo and Life Partners general counsel and secretary R. Scott Peden are appealing Nowlin’s final judgment. They filed a motion asking that enforcement of the judgment be delayed or modified until the appeals process is complete, with Pardo claiming a net worth of $1.5 million that would not allow him to pay his penalty.

He reportedly proposed making a $50,000 cash deposit and pledging 100 percent of his common stock in Life Partners.

U.S. Magistrate Andrew W. Austin, in rejecting Pardo’s request, said Pardo had failed to provide the court with a verified accounting of his financial condition.

An unverified financial statement shows that Pardo’s salary in 2014 was $667,267; he owns real estate valued in excess of $1 million; he owns four airplanes, two of which are luxury jets; and owns automobiles worth $369,000, including a Mercedes Benz SLS with a manufacturer’s suggested retail price of more than $225,000.

Even this unverified report fails to support Pardo’s request to have the judgment modified while he is appealing the ruling, Austin said.

Pardo did not return calls to his home and business Monday seeking comment.

Nowlin, who presided at the trial of Life Partners last year, ordered Life Partners to pay $15 million in illegal profit and $23.7 million in civil penalties.

He ordered Pardo to pay the $6.1 million that prompted Monday’s actions, while levying a $2 million penalty against Peden.

The case in the U.S. District Court for the Western District of Texas generated national attention because of the company’s unusual business of providing “life settlements,” in which the holder of a life insurance policy sells the policy to an investor in exchange for a lump sum. Federal regulators accused the company and its leaders of defrauding investors.

In the wake of Nowlin’s ruling, Life Partners filed for Chapter 11 bankruptcy protection while it appeals the issue.

Since its incorporation in 1991, Life Partners Inc. reports it has completed more than 162,000 transactions for more than 30,000 individuals and institutions in connection with the purchase of more than 6,500 policies totaling $3.2 billion in face value.

[Red Oak]

And from the Local Waco TV news

http://www.kwtx.com/home/headlines/Mars ... 09801.html

[millergrovesue]

What an arrogant SOB he is.