December 06, 2024
Agents who sold interests in life insurance policies for Pacific West Capital Group — which struck a $64 million SEC deal to end investment fraud claims — urged the Ninth Circuit on Friday to reverse an order requiring them to pay back some of their commissions, saying the deals weren't investment contracts.
June 04, 2018
Pacific West Capital Group Inc. agreed Monday to pay the U.S. Securities and Exchange Commission disgorgement of $57.4 million and $6.3 million in prejudgment interest to end claims in California federal court that it defrauded investors in the sale of fractionalized interests in universal life insurance policies.
April 07, 2015
The Securities and Exchange Commission in California federal court Tuesday sued a Los Angeles-based insurance company and its owner for allegedly defrauding investors in the sale of fractionalized interests in universal life insurance policies, known as "life settlements."