There's something you don't see every day.
57,000 Military personnel win $10,000,000. That's $175.43 per person!!

It's nice to see that the U.S. SECURITIES AND EXCHANGE COMMISSION is stepping in to help people against the mighty insurance companies.

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19791 / August 3, 2006
SEC v. American-Amicable Life Insurance Company of Texas; Pioneer American Insurance Company; and Pioneer Security Life Insurance Company, Case No. 06-CV-1553 JAH WMC (S.D. Cal. filed August 3, 2006)
SEC Charges Texas Insurance Firm With Deceptive Sale of Investments to Military Personnel
57,000 Military Personnel to Benefit From $10 Million Settlement

The Securities and Exchange Commission today sued a Waco, Texas insurance company and its affiliates for targeting American military personnel with a deceptive sales program that misleadingly suggested that investing in the company's product would make one a millionaire. Since 2000, approximately 57,000 members of the United States military services purchased the product. The vast majority earned little or nothing on their investment.

The Commission's complaint, filed in the United States District Court for the Southern District of California, charged affiliated entities American-Amicable Life Insurance Company of Texas, http://www.pioneeramerican.com/, and Pioneer Security Life Insurance Company (together, "American-Amicable"), all based in Waco, Texas, with securities law violations.

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