SANTA BARBARA — The law firm Foley Bezek Behle & Curtis, LLP (“FBBC”) obtained a $9.75 million settlement on behalf of almost 1,200 individuals ensnared in a fraudulent life insurance investment scheme involving Life Settlements between 2004 and 2014.
The $9,750,000 settlement, approved October 16 by Judge Lawrence P. Riff in the Superior Court of California, Los Angeles County, will allow investors to recoup thousands of dollars they lost to the scheme on a pro-rata basis based on the amount of their investment.
FBBC attorneys Thomas G. Foley, Jr., in Santa Barbara and Kevin D. Gamarnik in Costa Mesa initiated the litigation on behalf of plaintiffs Konstantin Shechter, Svetlana Averbukh and Arnold Applebaum in 2016. Co-counsels Richard E. Donahoo and Sarah L. Kokonas of the Tustin-based law firm Donahoo & Associates, PC, also played key roles in the litigation and settlement proceedings.