The United States Supreme Court has denied the Petition for a Writ of Certiorari, filed by the Ponzi schemer, Joel Steinger, who is currently serving a 20-year sentence. Steinger, who at his height was a leader in the Life Settlement industry, had previously exhausted all his appeals as a matter of right, when the Eleventh Circuit affirmed his conviction and sentence.
Steinger's company, Mutual Benefits Corp., was the largest of its kind, until closed down by law enforcement more than a decade ago. The Eleventh Circuit Court of Appeals subsequently held that Life Settlements are securities, under Federal law, and therefore must be registered with the Securities & Exchange Commission.
Now severely handicapped by a permanent back injury, Steinger is serving his sentence at the Federal Medical Center in Butner, NC. His scheduled Release Date is July 30, 2029, and he is 66 years of age.