Magistrate Denies Investors’ Request Seeking Pre-Approval Of Trustee’s Payments

Mealey's (July 21, 2021, 2:02 PM EDT) -- FORT LAUDERDALE, Fla. — A federal magistrate judge in Florida on July 18 denied a motion by investors in the Mutual Benefits Keep Policy Trust seeking pre-approval of any future payments that a trustee makes to himself or his firm until the trustee’s “enhanced oversight” of the trust’s servicer “can be investigated and fully understood” in a Securities Exchange Commission lawsuit alleging fraudulent selling of investment interests in life insurance policies....