Kenneth Rijock

Kenneth Rijock

Monday, January 28, 2019

LAWYER/TRUSTEE FOR LIFE SETTLEMENT FIRM LOSES APPEAL, MUST SERVE 10 YEARS

Anthony M Livoti, Jr.
  Anthony Livoti. a prominent Fort Lauderdale attorney, who was the trustee for the life settlements firm Mutual Benefits Corp., which was determined to be a billion dollar Ponzi scheme, has lost his last change to escape from the ten-year sentence imposed upon him for his participation.

Attorney Livoti, as trustee, had a fiduciary duty to the Mutual Benefits investors. The firm paid off old investors with funds from new investors, and falsified the life expectancy estimates investors relied upon. in deciding which life settlements to invest in. Several MBC executives and staff members have already be convicted, and are serving Federal prison terms for their crimes.

Livoti was reportedly offered a short sentence (2 years) to enter a guilty plea, but he chose to to to trial, with disastrous results at sentencing. The Eleventh Circuit court of Appeals affirmed his conviction, in a thirty-page decision. Below is the order denying his petition to have the full Court conduct a rehearing of his appeal. he is currently incarcerated at the Miami FCI; his Release date is August 20, 2021.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.