A man convicted of mail fraud in connection with a stranger-owned life insurance scheme must pay $2.6 million in restitution, a federal appeals court affirmed earlier this month.
The U.S. Court of Appeals for the Fifth Circuit on October 5 said that the district court judge properly applied the law to the calculation of losses by insurance companies and lenders that were victims of the man’s STOLI scheme.
A summary of the opinion, U.S. v. Bazemore, No. 15-10805 (5th Cir. Oct. 5, 2016), is available from Texa Laywer here. A LexisNexis news story, Judge Properly Calculated Insurers’, Lender’s Losses, 5th Circuit Finds, is available here.