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Cases / Insurance-linked

Mutual Benefits Corp

Joel Steinger (aka Joel Steiner), Steven Steiner (aka Steven Steinger), Michael McNerney, Anthony Livoti Jr.

ReportedJan 5, 2009
LocationFL
Amount$1,250,000,000

This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.

Company / entity
Mutual Benefits Corp
Industry
Viatical / life settlements (life insurance policies)
How investors were recruited
International network of sales agents; McNerney met investors at his law offices
Pitch & red flags
Sales materials promised "safe" investments in "secure" life insurance policies

Pitch phrases from this case

Source

FBI official

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