The investment was encouraged, as a fast, secure and profitable.Thus, Gerald and Dorothy Yarnell of Versailles, Monday, August agreed in 1997 to 10,000 dollars in a settlement called viatical.
He apparently somewhat unusual _ buying interest for the future of the life insurance benefit of the death of a woman dying of AIDS.
But she said that simply help the wife of the last years of life. And the projected yield 12% in one year, when the woman was thrown to die, plus a certificate of deposit and less risky than equities.
Or if she thought, when they plunked down their money and waited on the payment.
The problem is that AIDS is not dead. And they live longer, the lower the value of the Yarnells annualized business investment. Indeed, they could not all their investments.
e need the money now, “said a frustrated Dorothy Yarnell, 75″ For us, this is a great thing.
It depends on social security. And Jerald Yarnell, 82, has suffered two strokes and is facing growing medical costs.
The Yarnells far from alone. Securities and insurance investigators across the country say thousands of elderly may have unduly similar investments were sold with the same low risk, high-performance location. Now they can not their money when they need it most.
More than 40 civil and criminal investigations have resulted, on turnover of 2.5 billion dollars of USA viatical industry, which owes its name to a latin word about the importance of “food for the journey . “More than 75 people were convicted.