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Press Release

Unlicensed Viatical Settlement Provider Ordered To Cease Operations
Thursday, July 31, 2003
Contact Info:

Bob Lotane

850/ 413-2515 - 850/ 528-2868​

 


Tallahassee - The Florida Office of Insurance Regulation has ordered the Robin Hood Group, Inc., of Palm Beach Gardens, Florida, to immediately cease any viatical insurance business. The order named nine affiliated entities or persons (see attached), including Fewkes Management, of Jupiter, Florida, which must cease any and all viatical insurance operations in and from Florida.


The Office of Insurance Regulation has found that the Robin Hood Group, Inc. and its affiliates have been transacting business without a Certificate of Authorization. Additionally, the investigation revealed that in 1997 under the company's former name, Robin Hood International Ltd, Inc., an application for a license to engage in the viatical settlement business was denied by the former Florida Department of Insurance.


Based on an investigation by the Florida Department of Financial Services, Bureau of Investigations, Robin Hood Group, Inc. was again denied licensure, in September of 2002, because it was found to already be performing the functions of a viatical settlement provider. It did not contest the findings and continued to operate a website to solicit business.


"This group has shown a total disregard for the laws of our state," said Kevin McCarty, Director of the Office of Insurance Regulation. "I consider them to be a danger to the public welfare and in addition to shutting down their operations, I will forward this matter to the appropriate prosecutorial jurisdiction."


McCarty's order also demanded Robin Hood Group, Inc. produce a full listing of all customers, business contacts and investors and that written notice be provided to the listed parties informing them of the cessation of its Florida business. Further, Robin Hood Group, Inc. must fulfill all outstanding contractual obligations on a timely basis.


In a viatical settlement transaction, investors agree to enter into contracts to purchase an interest in the future death benefits of life insurance policies. Upon the death of the insured, investors receive any portion of the death benefit that, they hope, exceeds their initial investment.


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Entities and affiliates listed in the order to cease and desist:

Robin Hood International, Ltd, Inc.
300 Village Square Crossing, Suite 202
Palm Beach Gardens, FL 33410

Robin Hood International, Ltd, I
529 West Liberty Street, Suite 351
Wauconda, IL 60084

Robin Hood Group, Inc.
14153 U.S. Highway One
Juno Beach, FL 33408

Jeannie B. Cook
100 Uno Lago Drive, #203
Juno Beach, FL 33408

Michael Fewkes
100 Uno Lago Drive, #203
Juno Beach, FL 33408

Kristan J. Fewkes
100 Uno Lago Drive, #203
Juno Beach, FL 33408

Corey Lama
100 Uno Lago Drive, #203
Juno Beach, FL 33408

Fewkes Management Corporation
100 Uno Lago Drive, #203
Juno Beach, FL 33408

Cornerstone Escrow Corporation
7 E. Bijou, Suite 217
Colorado Springs, CO 80903

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Contact Info:

Bob Lotane

850/ 413-2515 - 850/ 528-2868​

 

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