{"id":1624,"date":"2015-04-11T13:36:25","date_gmt":"2015-04-11T13:36:25","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/04\/sec_charges_pacific_west_with"},"modified":"2022-03-22T13:53:52","modified_gmt":"2022-03-22T18:53:52","slug":"sec-charges-pacific-west-with","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-pacific-west-with\/","title":{"rendered":"Pacific West Faces SEC Fraud Charges Over Life Settlements"},"content":{"rendered":"

The Securities and Exchange Commission is charging Pacific West Capital Group Inc. with securities fraud and other violations. The regulator contends that the investment firm and its owner, Andrew B. Calhoun IV, misled clients about life settlements.<\/p>\n

According to the SEC, Calhoun and Pacific West raised close to $100 million over the last decade from more than 3,200 investors that bought life settlements in 125 life insurance polices. For more than two years, the two of them allegedly used proceeds from the sales to pay the premiums on life settlements that had been previously sold, while concealing that the life insurance policyholders were living beyond their projected life expectancy. Calhoun and his company are accused of make their life settlements seem more successful than they actually were even as they spent the primary reserves to pay policy premiums.<\/p>\n

With life settlements, an investor purchases a life insurance policy share with the understanding that he\/she will get part of the death benefit later. The investor is the one responsible for the premium payments and keeps the policy until the insured’s passing. Upon the insured’s death the investor is entitled to the policy’s death benefit.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission is charging Pacific West Capital Group Inc. with securities fraud and other violations. The regulator contends that the investment firm and its owner, Andrew B. Calhoun IV, misled clients about life settlements. According to the SEC, Calhoun and Pacific West raised close to $100 million over the last decade from […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3939],"tags":[],"class_list":["post-1624","post","type-post","status-publish","format-standard","hentry","category-life-settlements"],"yoast_head":"\nPacific West Faces SEC Fraud Charges Over Life Settlements — Investor Lawyers Blog — April 11, 2015<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission is charging Pacific West Capital Group Inc. with securities fraud and other violations. 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