The SEC and a group of Texas regulators on Thursday announced $70 million in settlements with Texas insurer American-Amicable Life Insurance Co. for allegedly targeting American military personnel with a deceptive sales program about an investment fund. Since 2000, about 57,000 military service members who were allegedly promised they'd become millionaires invested in the fund, but most earned little or nothing. American-Amicable neither acknowledged nor denied the SEC allegations.
August 04, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The Securities and Exchange Commission and a group of state insurance regulators on Thursday announced $70 million in settlements with a Texas insurance company for allegedly targeting American military personnel with a deceptive sales program.
Since 2000, about 57,000 U.S. military service members purchased the Horizon Life product from American-Amicable Life Insurance Co. and its affiliates, and most earned little or nothing on their investment.
Presented by BigVoodoo
Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.
The premier educational and networking event for employee benefits brokers and agents.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.
A large and well-established Tampa company is seeking a contracts administrator to support the company's in-house attorney and manage a wide...
We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Candidates should ...
We are seeking an attorney to join our corporate and transactional practice. Candidates should have a minimum of 8 years of general corporat...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
