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Resource ID: #15664
Subject: Insurance
Source: Wall Street Journal (New York)
Affiliation: 
Date: 29-Jul-99

$0.00

Description

The Journal investigates a Florida company that offered "viatical" settlements -- financial arrangements in which terminally ill people sell the rights to their life-insurance death benefits to investors. The company is being investigated by insurance regulators and a federal grand jury. Investigators think the company's president, Frederick C. Brandau, used investor's money to buy luxury cars and homes rather than to purchase viaticals agreements.

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