Larry King caught in $15M insurance scam
- Thread starter mickeyd
- Start date
twaddle
Thinks s/he gets paid by the post
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- Jun 16, 2006
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- 1,703
It's a mystery to me how anybody could get a new insurance policy, immediately flip it for $500K, and then claim they were ripped off.
Are insurance companies stupid? Why would they misprice the premiums on a new policy such that it had an immediate market value of $500K+ if sold?
Are insurance companies stupid? Why would they misprice the premiums on a new policy such that it had an immediate market value of $500K+ if sold?
chinaco
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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- Feb 14, 2007
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- 5,072
Why do you think King is filing suit? Or put it like this... His estate lost money... his wife and family. Plus, we do not see an accounting analysis of the transactions. He may have lost money immediately. A $15mm policy would cost a chunk of change! Obviously, if there was some money to get at the end, they would pay him a little up-front.
If you are sitting at the poke table wondering why all those eager fools sat down to play and lose their money... chances are you are the mark.
While it is a little different scenario. Think of it like those no money down scenarios where the person is holding a fist full of credit cards and claims he bought a house and received $50k in cash at the closing. But he still owes 50 banks $10k each at 21% interest. ...I made $50 Grand
If you are sitting at the poke table wondering why all those eager fools sat down to play and lose their money... chances are you are the mark.
While it is a little different scenario. Think of it like those no money down scenarios where the person is holding a fist full of credit cards and claims he bought a house and received $50k in cash at the closing. But he still owes 50 banks $10k each at 21% interest. ...I made $50 Grand
tryan
Thinks s/he gets paid by the post
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- Mar 25, 2005
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- 2,604
The most offensive statement is refering to King as a "newsman" .
OP
OP
mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
It occurs to me that LK should have ERd years ago. His time would be better spent reading this forum's posts than trying to wrangle a few $100,000. I wonder how many other similar "opportunities" LK has "invested" in over the years that lost him a bunch?
Again, he should have kicked back and turned in his notice to CNN years ago so he could become a more informed investor by checking in here on a regular basis.
Again, he should have kicked back and turned in his notice to CNN years ago so he could become a more informed investor by checking in here on a regular basis.
