2001
On September 12, 2001, a Tarrant County Grand Jury returned 15 indictments against Ronalee Levy Orlick , Vice-President of American Benefits Services, Inc., of Wellington, Florida; Ihor A. Gary Humesky , President of U.S. Investors Group, Inc., of Clearwater, Florida; Montgomery Lee Merrell , of CMI Financial, of Fort Worth; Sharon Jane Hutchinson, of Fort Worth and Kenneth Dale Ledford of Arlington, Texas, for alleged violations of the criminal provisions of the Texas Securities Act in connection with the sale of certificates of viaticated insurance benefits issued by Financial Federated Title and Trust, Inc. (FFTT) and American Benefits Services, Inc. (ABS). ABS and FFTT, through unregistered dealers and salesman, was responsible for the issuance of over $117 million in such certificates nationwide. Investigators were later only able to determine the purchase of approximately $6 million in policies. ABS was the subject of a previous Order issued by the Texas Securities Commissioner, CDO/Fin-1366. The matter was investigated in cooperation with the Florida Comptroller Banking & Finance Department, the Florida Department of Insurance and the Tennessee Attorney General.