Realcent.org

Check out Dallas area insurance company Globe Life (GL) and what happened Thursday. Closed Wed. at $104. Opened Thurs. at $98 and went to $38.95 at 3pmish ET before bouncing.

Allegations included selling policies to dead people and fictitious people, other accounting irregularities, rampant drug abuse (cocaine) and rape within the company, etc. Supposedly Warren Buffett sold all his shares last year after holding for something like 10-12 years. Also, someone warned senior execs at least 200 times with no response. Fuzzy Panda wrote a hit piece, and their track record has been solid over the years (Red Violet is the only exception I can find).

"Selling policies to dead people and fictitious people"
I am wondering how many other companies are doing this. After all, there are thousands of insurance companies on this planet.

How do you get the dead people to pay? I dont understand this.

TXSTARFIRE wrote:How do you get the dead people to pay? I dont understand this.

I'm thinking they created these fictional clients to make their financials "look" strong so they could maintain their banking relationships and continue to borrow and use leverage to keep the party going just one more year, just one more quarter.

If there were allegations of rape though...why didn't the po-po get involved?