May 28, 2024 – Arbor has modified loans against 127 properties in its CLO to May 2024. In its Q1 2024 earnings call, Arbor CEO Ivan Kaufman claimed that “Fresh capital [is] brought to the table in every one of these deals”. Viceroy reached out
May 23, 2024 – Viceroy’s deep-dive research into SEC and NAIC filings has found how Globe Life, through financial shenanigans and a full financial guarantee, have transformed AIL’s agent loan receivable balances into short-term investments on Liberty National’s balance sheet. Globe Life and Liberty National
May 16, 2024 –Globe Life appears to be the target of an SEC investigation, per a withheld FOIA response from the SEC. The response, pertaining to a request submitted by Viceroy associates to the SEC, was withheld due to Exemption 7(A), which “protects from disclosure
May 16, 2024 – Arbor’s underlying CLO performance data for May is now live. 38% of Arbor’s CLO loans are now delinquent and/or modified. Arbor has modified loans against 11 properties in the last month. These modifications substantially comprise of capitalization of interest, “temporary” rate
May 15, 2024 – Viceroy have obtained redacted settlement documents from a case between the National Labor Relations Board (NLRB) and American Income Life. While heavily redacted, the documents clearly concern the pseudo-compulsory membership of its agents to OPIEU Local 277. The charges filed against
May 14, 2024 – Below is the letter sent by Viceroy to Arbor’s auditor Robert Hatch detailing the fraudulent related party transaction detailed in our previous report wherein Arbor financed purchases of assets from its own foreclosures with Arbor loans, via off-balance sheet entities run
May 13, 2024 – Viceroy have hosted over 150GB of Globe Life materials at the link below: Globe Life data room These documents include underwriting materals, sales scripts, agent training materials, agent incentive materials and union relation materials. This represents some, but not all the
May 10, 2024 – On April 29, 2024, immediately prior to publication of Viceroy’s first report on Globe Life, The Main Course, the Insurance Department of Pennsylvania issued a Consent Order that AIL agent Jenna Grula submitted thirteen fraudulent life insurance application, of which 3
May 9, 2024 – Viceroy Research today bestows the F-word upon Arbor and its management team: “fraud”. Viceroy’s investigations have discovered an elaborate and intentional con, where Arbor has financed purchases of assets from its own foreclosures, with Arbor loans, via off-balance sheet entities run
May 3, 2024 – Below is Yale New Haven Health’s complaint against Prospect Medical Holdings in relation to the (now dubious) purchase of the Connecticut hospitals. No doubt this is not the news Medical Properties Trust was hoping for given their expectation of a ~$350m
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