Apr 23

Steven Charles Landrum, doing business as Summit Financial Services, Inc. was found guilty of theft of an amount over $200,000 and sentenced to 15 years in prison and a $10,000 fine by a Baily County jury in Muleshoe, Texas on April 23, 2004. Judge Gordon H. Green also ordered Landrum to pay restitution in the amount of $310,000.00 to four victims who had invested in viatical settlements with him. Financial records revealed that Landrum spent the overwhelming majority of the investors' funds on expenses unrelated to the purchase of viatical settlements.