Deadly Payout
A trio of Texas con men scores $100 million, telling investors there's big money in the "life settlement" insurance biz. They claim policy holders can cash out before they die and investors can double their money. When the fraudsters fail to pay returns and keep the money for themselves, it all comes crashing down, leaving investors' finances in critical condition.
Richmond insurance salesman Tomme Bromseth used this marketing tape to lure investors like Philip Kersey into giving his money to A&O. Bromseth sold $3 million worth of A&O's bogus products before he was arrested.
Texas State Securities Board Financial Analyst & Investigator Letha Sparks discusses how A&O creators Christian Allmendinger and Brent Oncale reeled in unsuspecting investors by making their marketing materials and sales pitch picture perfect.
Houston Chronicle reporter Loren Steffy and IRS Special Agent Rick Raven explain the legal investment vehicle at the center of the A&O Resource Management scam.
Paula Whitaker Hancock is a well educated, hard working single mom who manages to save $1 million for her retirement. Her estate planner suggests she invest her money with a company he represents called A&O. She agrees to a meeting with Christian Allmendinger and Brend Onscale, who impress her and then take her life savings.
Would you fall for A&O’s promises? Listen to Christian Allmendinger and Brent Oncale’s sales pitch and decide!
Read the marketing materials that lured 800 people into investing $100 million dollars with A&O Resource Management.
Playing
Watch Next...
