Litigation & Arbitration
Nov. 3, 2023
Company that sold ‘life settlements’ pays $10M settlement
“The receiver, Thomas Hebrank, expects all investors, all 1,200 people, will get back their original investment, not the promised 10 or 15 percent return but the original investment,” plaintiffs lawyer Thomas G. Foley Jr. said.
A Los Angeles County Superior Court judge approved a nearly $10 million settlement between Pacific West Capital Group Inc. and an estimated class of 1,200 investors who said they were sold deceitful “life settlement” investments.
Mills, Potoczak & Company, an accounting firm in Ohio that worked with Pacific West, also agreed to pay $9.7 million to settle claims that it breached its fiduciary duties.
Life se...