We are investigating Pacific West Capital and their sales agents after the SEC announced fraud charges related to their sale of life settlements. Investors with life settlement investments are encouraged to contact us at 800.647.8130 or by email at email@example.com.
The SEC alleges that Pacific West and Andrew B. Calhoun IV, a life insurance agent, raised $100 million from investors who purchased life settlement contracts. The alleged fraud occurred when Pacific West used proceeds from the sale of new life settlements to continue funding life settlement investments sold years earlier, without informing would-be buyers of this practice.
According to the SEC, Calhoun and West used false and misleading statements about the risk of the life settlements, and they misled investors as to the annual returns. They are charged with violating broker-dealer and anti-fraud securities registration provisions of the federal securities laws.
Also named as defendants are PWCG Trust, which held and serviced the insurance policies and five sales agents of Pacific West: Brenda C. Barry and her company BAK West, Andrew B. Calhoun Jr. of Anderson, Eric C. Cannon and his company Century Point, Michael Dotta, and Caleb A. Moody.
We have handled a number of life settlement cases with death benefits ranging from $50,000 to $4.5 million. We’ve found life settlements to be an area where fraud and misrepresentation frequently occurs.
If you purchased life settlements from Pacific West Capital Group and have questions about your investment, contact us to learn more. We represent individual and institutional investors nationwide in FINRA arbitration and in court since 1985.