(Bloomberg) -- Coventry First LLC illegally marked up prices on hundreds of investments that bet on when people would die, an American International Group Inc. unit said at the start of a fraud trial in New York.

Lavastone Capital LLC, the AIG subsidiary, claims Coventry ripped it off of more than $150 million by systematically jacking up prices in a 2006 deal to help it acquire life insurance policies from people seeking to sell them for cash.

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