share_log

Watching Globe Life; Shares Move Lower On Fuzzy Panda Research Report On Co Titled "Globe Life (GL): Executives Disregarded Wide-Ranging "Insurance Fraud" While They Received Millions In Undisclosed Kick-Back Scheme"

Benzinga ·  Apr 11 21:04
  • Uncovered Extensive Allegations of Insurance Fraud
    • + Proof Management Knows & Has Not Stopped It
  • Sales Agencies Known to Have Committed Insurance Fraud Accounted for >$200m of AIL's ALP (>60% of AIL's New Business)
    • Wrote Policies for Dead People; Opened Policies for Fictitious People
    • Forged Customer Signatures on Policies
    • Withdrew Funds from Consumers Bank Accounts without Approval
    • Indications of Actuarial Fraud – Faked Tests so Smokers Were Underwritten as Non-Smokers
  • Growth driven by AIL sales teams with fraud
  • Allegations of Illegal Kickbacks to Globe Life Executives – Sr. VP & AIL's President of >$65 Million
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment