Boca Raton-based Imperial Holdings announced Monday it has agreed to pay an $8 million penalty in a deferred prosecution agreement with federal authorities to resolve accusations that the company made misrepresentations about premium financing on life insurance applications for seniors.
The company avoids prosecution under the agreement, which also called for the resignation of president and COO Jonathan Neuman, who also lost his board seat. He has been on leave since Jan. 30.
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