The Securities and Exchange Commission yesterday slapped Provident Capital Indemnity Ltd. with a lawsuit, alleging that the company had conducted a major life settlement bonding fraud. The firm’s president, Minor Vargas Calvo, and its outside auditor Jorge L. Castillo, were also charged in the case. PCI, based in Costa Rica, provided the financial backstop for [...]
Posts under ‘Life Settlement’
Scott Ross involved in Life Settlement Scam
Scott Ross of Woodstock, Ill. was charged with three counts of mail fraud for swindling people who invested in funds he claimed to operate, according to the U.S. Attorney for the Northern District of Illinois and the FBI. He raised about $1.9 million from about 25 investors for the Elucido Fund, which claimed to invest [...]
