CNO Financial Group Inc. has filed suit in the U.S. District Court for the Southern District of New York against executives at Beechwood Re, claiming they fraudulently redirected reinsurance trust fund assets to Platinum Partners, an embattled Long Island hedge fund under investigation by federal authorities.
The suit filed by lawyers at Winston & Strawn claims that CNO subsidiaries Bankers Conseco Life Insurance Co. and Washington National Life Insurance Co. have lost hundreds of millions of dollars as a result of a conspiracy to surreptitiously bring institutional investor money under Platinum’s control.
The case, Bankers Conseco Life Insurance Company v. Feuer, 16-cv-07646, has been assigned to Southern District Judge Edgardo Ramos.
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Ross Todd
Ross Todd is the Editor/columnist for the Am Law Litigation Daily. He writes about litigation of all sorts. Previously, Ross was the Bureau Chief of The Recorder, ALM's California affiliate. Contact Ross at rtodd@alm.com. On Twitter: @Ross_Todd.
