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Life Partners Holdings, Inc. Message Board

ericcartman69u 8 posts  |  Last Activity: Sep 24, 2015 6:15 PM Member since: Jan 24, 2013
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  • ericcartman69u ericcartman69u Sep 24, 2015 6:15 PM Flag

    They were perfect for an IRA (lol)! Why? According to the promotors:

    - Diversification can be accomplished with 10 or more policies, thereby giving an income stream to cover the RMD.
    - The money was guaranteed to compound (Everyone dies, right?), giving tax-deferred accumulation.
    - According to Pardo during a speech, the initial investment was calculated to cover the premiums to maturity.
    - Life Partners found a first rate trust organization to ensure (I love that word) the IRA is protected.

    Well, perhaps these things weren't perfect for IRAs and ERISA accounts.

  • Reply to

    Two Things

    by angellaj2112 Sep 18, 2015 1:56 PM
    ericcartman69u ericcartman69u Sep 24, 2015 2:08 PM Flag

    I doubt Pardo is even in the USA anymore. His money is in Gibraltar, or was in Gibraltar (I'll bet he is moving it around). The lawsuit reads like the message board here from 2008-2014 or a Seeking Alpha article from 2011.

  • ericcartman69u ericcartman69u Sep 24, 2015 2:03 PM Flag

    Worse, how does an IRA investor make a premium call if the yearly IRA contribution isn't enough to cover the call? These people are in deep doo-doo.

  • Reply to

    New LP Owner Discussions

    by angellaj2112 Aug 22, 2015 1:31 PM
    ericcartman69u ericcartman69u Aug 25, 2015 11:43 PM Flag

    Veni vidi vici Vida? Oh no, say it ain't so.

  • Reply to

    Filing Claims Video

    by xram43 Aug 18, 2015 3:55 PM
    ericcartman69u ericcartman69u Aug 21, 2015 1:44 PM Flag

    Switch to FireFox or GOOGLE Chrome instead of Internet Explorer and give it a try.

  • Reply to

    Latest Motion

    by angellaj2112 Aug 21, 2015 2:10 AM
    ericcartman69u ericcartman69u Aug 21, 2015 1:40 PM Flag

    No exactly correct: 1) Read the policy. What the insurance company can and cannot do is printed in the policy. 2) A 25% reduction in premium does not equate to a reduced paid-up option of 75% of the policy proceeds, It is far, far more complicated than that. It could result in a 40% payout of the original face value (as a wild example), and would be mathematically correct since the formulas used are valid. On a UL policy, no "short" payment will keep it alive forever unless there was enough cash value in it to begin with. Most of these are policies that were minimally funded.

  • ericcartman69u ericcartman69u Aug 6, 2015 4:40 PM Flag

    Because they were the same people posting for the past 7 years! First they were posting to harass people who were questioning the scam (publishing names, hiring people to follow them, etc.,), then to question are argue each point we found against the firms, and now to keep themselves out of jail.

  • Reply to

    tax deductiblility

    by pjwintx2 Jul 20, 2015 6:48 PM
    ericcartman69u ericcartman69u Jul 20, 2015 9:13 PM Flag

    I am not a CPA or tax attorney. I still have a question for you: When did you take a loss? The fact that a policy hasn't yet matured doesn't mean you can currently define the value of the loss, unless you previously sold it back to Life Partners.

    Or, were you an investor in the stock LPHI? If so, you should have been aware of potential fraud if you invested within the past 5 years or so. There were publicly available articles to warn you from Citron Research (Stock Lemon), several articles in Seeking Alpha, etc. Regardless, what to do with the stock loss seems to be well established. If you find someone with a different opinion, kindly link an article in a journal we can all read.

    Investors should pursue fraud charges if they were indeed defrauded, if only because there is a moral obligation of honest people to stop future fraud. Suggesting they should not for a possible tax treatment makes me very curious about your motives.

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