Archive for October, 2009
Man Sues Boca’s “You Buy, You Die” Guys, Barry and Howard Kaye for Securities Fraud
October 7, 2009…Kimberly Miller of the Palm Beach Post reports that local insurance tycoon, Barry Kaye, has been sued for fraud in federal court in Ohio. The suit claims that Kaye and his son, Howard, persuaded an 81 year old man to purchase a $5 million policy of insurance with promises that he later could sell the policy to an investor for a substantial profit. After paying more than $322,000 in premiums over a two year period, Louis Levin said that there was no market to sell the policy as the Kaye group had represented. The suit alleges further than Howard Kaye solicited Levin, recommended the purchase of the policy and received a substantial commission when Levin made the purchase. Compensatory and punitive damages are being sought.
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John R. Hargrove
Hargrove Pierson & Brown
“A Boca Raton Law Firm”