Report: Missouri FIrm Pleads Guilty To Money Laundering

Report: Missouri FIrm Pleads Guilty To Money Laundering

A Missouri company “has pleaded guilty to a federal money laundering charge” stemming from a life settlement scheme, a Kansas City Star news article reports.

The article, “Lee’s Summit Company D&D Advisors Pleads Guilty To Money Laundering“, reported that federal prosecutors said the company, D & D Advisors, LLC, was created by a financial planner whose companies managed life settlements investments, and that the fraud involved monies obtained from a wire fraud scheme.  One of those companies, the report said, borrowed more than $300,000 from three investors, used those funds to obtain life insurance benefits, but that the investors did not receive any proceeds from the investments.

The article is available here.

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