Eliot Spitzer Sues Coventry First in Probe of 'Life Settlement' Cases

New York Attorney General Eliot Spitzer sued a major player in the "life settlement" industry, alleging that the company engaged in a plan to defraud owners of life-insurance policies.

In a life settlement, individuals sell to investors the right to death benefits from their life-insurance policies. In exchange, the sellers get cash while they are still alive.

Eliot Spitzer Sues Coventry First in Probe of 'Life Settlement' Cases
Source: Wall Street Journal (subscription required)
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