Copyright: | Copyright 2011 The Associated Press. All rights reserved. |
Source: | Associated Press |
Wordcount: | 131 |
Abdulwahab and the 39-year-old Allmendinger were principals in companies that used investor funds to buy life insurance policies from insured people at less than face value and promised investors a hefty return when the benefits were paid. Prosecutors said the men lied about many aspects of the companies and used investor funds to finance lavish lifestyles.
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