The Feds Are After A&O Life
I have just learned of a November 30, 2009 letter to A&O Life investors from the U.S. Postal Inspection Service that states that it, along with the FBI and IRS, are investigating A&O for mail fraud. It's about time!
Here is a copy of the letter and questionnaire.
I cannot wait to see where the federal investigation goes. For people who don't know, federal investigations are serious business. Federal investigators and prosecutors are usually smart, talented and tenacious in their prosecutions. In addition, they are backed by the resources of the United States government. The vast majority of federal targets are convicted.
I do not expect A&O wrongdoers to escape prosecution or convictions.
The only way the Feds can stop this from recurring is to prosecute not only the primary felons but they MUST continue to prosecute all the co-conspirators, namely, the sales agents. By letting those agents escape justice, the Feds will breed more of the same fraudulent crimes. The Feds should have learned by now from the LaMonda brothers, National Life Settlements, and Secure Investments, that the lack of prosecution of sales agents allows future felons to more easily recruit a sales force. I will gladly hand over my sales agents to the Feds, but I also expect that the Feds will use this information to provide an example by prosecuting each and every sales agent who willingly participated in this scheme. Texas Insurance laws state that ALL individuals, directly or indirectly, involved with a sale utilizing an unauthorized insurer (PCI) are held financially responsible for any and all losses in such a sale.
NOW is the time for the Feds to put an end to this type of crime. SEIZE the opportunity. NEVER again. If the U.S. Attorney wants to talk to me, Marydith, you have my number.
Our questionnaire and documentation are on their way to the Post Office investigators as we speak. Any way these crooks can be nailed should be pursued, and if anyone is listening, we're ready to help.