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Browse: Home / 2012 / January / 04 / SEC Charges Life Settlements Firm and Three Executives with Disclosure and Accounting Fraud

SEC Charges Life Settlements Firm and Three Executives with Disclosure and Accounting Fraud

By Securities Docket on January 4, 2012, 2:47 pm

The SEC alleges that Life Partners chairman and CEO Brian Pardo, president and general counsel Scott Peden, and chief financial officer David Martin misled shareholders by failing to disclose a significant risk to Life Partners’ business: the company was systematically and materially underestimating the life expectancy estimates it used to price transactions. Life expectancy estimates are a critical factor impacting the company’s revenues and profit margins as well as the company’s ability to generate profits for its shareholders.

via SEC Charges Life Settlements Firm and Three Executives with Disclosure and Accounting Fraud — SEC Press Release

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Posted in SEC, Top | Tagged Financial Fraud

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