Three principals of a group of businesses that acquired and marketed life settlements to investors were arrested and charged in an 18-count indictment for their alleged roles in a $100 million fraud scheme with more than 800 victims across the United States and Canada.
The charges were announced today by U.S. Attorney for the Eastern District of Virginia Neil MacBride and Assistant Attorney General Lanny Breuer of the Criminal Division. An indictment unsealed today in U.S. District Court for the Eastern District of Virginia charges Christian Allmendinger, 39; Adley Abdulwahab, 35; and David White, 40, with one count of conspiracy to commit mail fraud, six counts of mail fraud, one count of conspiracy to commit money laundering, six counts of money laundering, and four counts of securities fraud. The indictment also seeks forfeiture of approximately $103 million from all three defendants, according to Federal Bureau of Investigation reports.
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