Education Associates, Inc.
A Non-Profit Corporation
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Quatloos! > Investment Fraud > Viaticals Fraud > Exhibit: Viaticals Fraud Viaticals Fraud Viaticals are based on a legitimate concept: Allow investors to purchase the life insurance benefits from a terminally ill person, allowing the sick person to receive a partial payment on the policies while they are still alive, which can be a godsend to terminally ill people and their families. The investor pays about 60 to 70 cents on the dollar for the policy, then collects the full death benefit on the policy. Unfortunately, these programs are often run by scammers and can be disastrous for investors. Fraudulent viatical settlements schemes have taken off as they can attract people who are desperately in need of more money from their small investment funds, by offering returns that are above market rates. Often most of the money collected from investors go toward purchasing luxury cars, speedboats, helicopters and real estate, instead of these insurance policies.
Links on Viaticals Fraud:
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Securities Fraud - Stock and Bond Fraud, including Boiler Rooms / Pump and Dump Schemes, Mutual Fund & Hedge Fund Fraud, FOREX scams, plus Churning, Private Placements, Venture and Bridge Funding, IPOs, Viaticals Fraud, HYIP and Prime Bank scams, MTNs, Historical Notes, Recovery Schemes, etc We do NOT spam. Various multi-level marketers & other criminals have recently sent out spam impersonating us, & having our return email address, so that people would complain about spam and cause us to be shut down (a/k/a "joe job"). These multi-level marketers and other criminals have engaged in this form of cyber-terrorism because our telling the truth about their fraudulent schemes was hurting their ability to sell to new victims. Fortunately, our ISP now recognizes that these fake spams are bogus and ignores them, and additionally we are duplicating this site on numerous other servers (including "hardened" servers as well as our own proprietary servers) so that we cannot be harmed by these multi-level marketers and other criminals. Death to Spammers!
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