Man alleged to have used an animal shelter to pass money to his mistress
It’s another of those stories that you almost couldn’t make up – and a former life insurance company CEO is at the centre of the madness.
According to a Bloomberg report, Brian Pardo, the ex-CEO of Life Partners Holdings Inc, based in Waco, Texas, has not only been accused of cheating investors out of around $1.3 billion , but it has also been alleged that he used an animal shelter in order to pass money to his mistress.
It is suggested that Happy Endings Dog Rescue was established to help larger dogs that needed homes. However, it is alleged that hundreds of dogs were actually being left uncared for as the rescue home was actually helping Pardo to evade taxes. It took around $16 million from investors in what has been deemed to be Texas’s largest fraud case. However, rather than millions of dollars going to the charity, it instead founded its way to Pardo’s mistress who started the rescue centre back in 2005. Pardo refutes the claims.
Speaking to Bloomberg, Thomas Moran II, who was a trustee at the bankrupt estate, commented that Happy Endings did not serve its charitable purpose. There have been several lawsuits filed in recent days as investors attempt to retrieve their cash.
According to the trustee, the dog shelter abandoned 250 animals at Camp Diggy Bones, another dog shelter, back in 2014. Some reports even suggest that many more dogs were left without care. At one point, Happy Endings was picking up payments from around 20 people that were not on its payroll and just before Life Partners’ bankruptcy Pardo’s mistress is alleged to have provided him with a salary from the charity.
Life Partners sold shares in life insurance policies to both the terminally ill and elderly. It is alleged that the company defrauded many investors with the company filing for bankruptcy in 2015 after a $46 million court judgment in which the company and Pardo were found by a jury to have filed false and misleading statements with the US Securities and Exchange Commission.
Meanwhile, Brent Perry, a lawyer for Pardo, commented that the trustee’s lawsuits have “little, if any validity”.
According to a Bloomberg report, Brian Pardo, the ex-CEO of Life Partners Holdings Inc, based in Waco, Texas, has not only been accused of cheating investors out of around $1.3 billion , but it has also been alleged that he used an animal shelter in order to pass money to his mistress.
It is suggested that Happy Endings Dog Rescue was established to help larger dogs that needed homes. However, it is alleged that hundreds of dogs were actually being left uncared for as the rescue home was actually helping Pardo to evade taxes. It took around $16 million from investors in what has been deemed to be Texas’s largest fraud case. However, rather than millions of dollars going to the charity, it instead founded its way to Pardo’s mistress who started the rescue centre back in 2005. Pardo refutes the claims.
Speaking to Bloomberg, Thomas Moran II, who was a trustee at the bankrupt estate, commented that Happy Endings did not serve its charitable purpose. There have been several lawsuits filed in recent days as investors attempt to retrieve their cash.
According to the trustee, the dog shelter abandoned 250 animals at Camp Diggy Bones, another dog shelter, back in 2014. Some reports even suggest that many more dogs were left without care. At one point, Happy Endings was picking up payments from around 20 people that were not on its payroll and just before Life Partners’ bankruptcy Pardo’s mistress is alleged to have provided him with a salary from the charity.
Life Partners sold shares in life insurance policies to both the terminally ill and elderly. It is alleged that the company defrauded many investors with the company filing for bankruptcy in 2015 after a $46 million court judgment in which the company and Pardo were found by a jury to have filed false and misleading statements with the US Securities and Exchange Commission.
Meanwhile, Brent Perry, a lawyer for Pardo, commented that the trustee’s lawsuits have “little, if any validity”.
