Archive for April, 2010

April 7, 2010…Hargrove Pierson & Brown P.A. has filed suit against the Kaye group challenging the sale of a “life settlement” insurance transaction causing the couple to lose in excess of $500,000. As reported in the Palm Beach Post and South Florida Sun-Sentinel, “the so-called life settlement scheme was the cornerstone of the Kayes’ business which was memorialized with the jingle, ‘You buy, you die, it pays!’” After attending a “free lunch” seminar, senior citizens David and Aileen Epstein of Boynton Beach, were persuaded by Barry Kaye’s son, Howard Kaye, to turn in their three existing life policies worth $6.5 million and buy from him two new policies worth $28 million. The Epsteins were induced with the promise that the new policies could be sold in a vibrant market for life insurance policies for much more than the stiff premiums that they were persuaded to pay. The full article can be viewed at this link.

March  25, 2010…On the basis arguments contained in a jurisdictional brief filed by Hargrove Pierson & Brown P.A., the Florida Supreme Court has agreed to hear the matter of Delta Property Management v. Profile Investments, Case No. SC09-2075.  The matter arose after the firm’s client, Delta, lost its property in a tax sale.  The forfeiture resulted from  notice of the tax sale being mailed by the clerk of Duvall County, Florida, to an old and outdated address.  Although Delta submitted the change of address to Duvall County well in advance of the sale notic,  the change was not posted in a timely manner.  The misdirected notice was eventually returned to the sender marked “undelivered” but the clerk’s office did nothing to correct the error.  The property was consequently sold at the Sheriff’s tax forfeiture to Profile. Delta’s brief on the merits of the case is due to be filed by April 19th.  The case’s progress will be followed on this post.