Hearing for Alleged $800M Florida Fraud Mastermind

Joel Steinger, the former chief of now-defunct Mutual Benefits Corp., facing many years in prison.

Thursday, Nov 21, 2013  |  Updated 8:38 AM EDT
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The health of the alleged mastermind of an $800 million insurance fraud scheme is the main topic of a hearing in Miami federal court.
 
Federal prosecutors are asking U.S. District Judge Robert Scola to set a firm trial date Thursday for Joel Steinger, the former chief of now-defunct Mutual Benefits Corp. Steinger was set for trial in September, but that was delayed so he could undergo medical tests for a chronic spine ailment.
 
Now those tests are done and prosecutors want to get the case moving.
 
Steinger faces many years in prison if convicted of a variety of conspiracy and fraud charges.
 
Prosecutors say thousands of investors were ripped off by Mutual Benefits, which sold investments betting on life expectancies of people with chronic illnesses such as AIDS and cancer.

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