Fraud alleged in betting on life expectancies

The government Tuesday accused a Texas firm of defrauding investors in the unusual business of essentially betting when people will die.

The firm, Life Partners Holding, brokers the sale of life insurance policies from the policyholders — for example, the people whose lives are insured — to investors. The investors collect when the insured dies and the company that issued the insurance policy pays the death benefit.

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David Nakamura, Felicia Sonmez 04 Jan, 2012
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Source: http://feeds.washingtonpost.com/click.phdo?i=d7c81490b9e0d36302531538719aafca
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