Corporate & Securities Law

Eccleston Law has launched an investigation into American Benefit Concepts, Inc., an insurance company located in Portage, Michigan, in connection with the sales of various unregistered securities, including investments in Diversified Lending Group, Diversified Global Finance and Diversified Liquid Asset Holdings.  Eccleston Law is also seeking information on Travis M. Oliver and David McQueen and their connection to these companies. 

American Benefits Concepts was an insurance brokerage that principally sold life insurance, supplemental Medicare insurance and other insurance products.  However, through its agents it sold various unregistered securities in the Diversified Lending Group, which turned out to be a California-based Ponzi scheme that the SEC shuttered.  The investors principally were elderly retirees who invested their retirement savings in those companies. 

A court appointed receiver took over nearly $216 million in assets of Diversified Lending Group, which purported to be a real estate company that the SEC accused of defrauding hundreds of investors.  Diversified Liquid Asset Holdings was affiliated with Diversified Lending Group, which purported to make investments in alternative energy products.

Investors were solicited with promises that this investment was a ?great opportunity? and that investments would produce ?guaranteed returns? of up to 12%.  Investors were sold those products through a series of private placements by salespeople who were licensed to sell only insurance, not securities.

Investors who lost money in those investments may be able to recover their losses through arbitration.  Contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 to discuss your case.