ASG Is Servicing Retirement Value's $104M Portfolio


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ASG Is Servicing Retirement Value's $104M Portfolio

Posted July 30, 2010 2:50PM PST

Asset Servicing Group said in a statement today that it was chosen by Retirement Value's court-appointed receiver to service the investment company's life settlement portfolio.

Retirement Value's portfolio is worth $104 million in face value, according to Asset Servicing Group Chief Operating Officer Sheri Townsend. The Oklahoma City-based servicing company was retained by receiver Eduardo S. Espinosa of K&L Gates law firm in Dallas.

Retirement Value, of New Braunfels, Texas, is accused by the Texas State Securities Board of selling unregistered securities and fraudulently misleading investors. The company, which regulators said raised approximately $65 million from more than 800 investors, was placed under receivership in May.

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