Howard G. Judah, Gregory F. Jablonski: Sentenced, 10 Years

Howard Glen Judah and Gregory F. Jablonski were each sentenced to 10 years in state prison on Feb. 20 for operating a nearly $30 million fraud based on the death benefits from life insurance policies.

Judah and Jablonski were sentenced in Harris County state District Court. Judah and Jablonski founded National Life Settlements LLC (NLS), a Houston company that sold unregistered securities that were supposedly backed by life insurance policies' death benefits. The pair operated NLS as a Ponzi scheme, paying new investors with money from earlier ones.