Life Partners Settles Case With Virginia

The commission charged that life settlements Life Partners had sold in the state were unregistered securities.

Under the agreement, the firm also consented that it would disclose information to future prospective investors about the risks of the investment, including average time for the investment to bear fruit, the requirement to pay life insurance premiums on purchased policies beyond the amount set aside for that purpose at the time the contracts were purchased, and the average amount of additional premiums investors have paid in the past.

Life Partners did not admit any misconduct in the case. As of press time, the company had not returned calls seeking comment.