Question: Everybody assumes that IFT did something wrong to cause the FBI raid on its office in Florida on behalf of the New Hampshire Attorney General. But think about this: What if IFT did nothing wrong and the feds raided the company in order to obtain documents on another matter entirely, perhaps pertaining to money laundering on large life policies that IFT just happened to acquire or loan against, with IFT itself having done nothing wrong? IFT just went public earlier this year and raised a lot of cash, $175 million or so. Hard to believe that any wrongdoing by them would have been missed by both the underwriters and auditors... I know nobody at IFT and have no position in the stock at this time, but find this story fascinating.
try not to be so naive. ask anyone in the life settlement space about this group of guys. ask anyone who has ever had any business dealings with either of the 2 "Johns". in my humble opinion their arrogance has finally caught up with them. Again, as we stopped doing business with them a few years ago, before their IPO, their reputation precedes them. but let me say, anyone who invested in them was just plain foolish. again, in my opinion only!!
I did. I know nobody there and did ask several people about them from the life settlement space and nobody could name one thing or give one instance where they have done wrong or illegal. Not one. Can you? And do you think you know more about them than the auditors and underwriters who took them public do? Do you know the kind of due diligence that comes with doing a $175 million IPO? I do and it's thorough - real thorough. Co. has no debt and $6.50 per share in cash now. I know of an FBI raid on a company wherein the raid had nothing to do with any conduct of any of the companies' employees, so it has happened.