$7 milliontaken from 40 people by one Massachusetts adviser selling life settlements
A Massachusetts insurance adviser took $7 million from 40 people for life settlements, prosecutors said, then let policies lapse by not paying the premiums; he got over eight years.
He also failed to repay investors when he sold policies, and the scheme ran from 2001 until 2011.
Source: Boston 25 News, from the Associated Press. Read more: life settlement fraud · case file