Investors seek solution after losing investments in Waco

Posted at 9:25 PM, Aug 01, 2016
and last updated 2016-08-01 22:25:00-04

More than a hundred investors met today in Waco to hear plans to get their money back after an organization filed for bankruptcy. 

Life Partners filed for Chapter 11 bankruptcy in January 2015 after the company and its leaders, including founder Brian Pardo, misled investors.

The company purchased life insurance policies from terminally ill clients for lump sum, selling that policy to investors.

The appointed bankruptcy trustee presented a detailed plan for the investors affected, which could help them get some of their investment back.

Another plan is also under consideration.

The investors will vote on one in mid-August.

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