Shares of Globe Life rebounded Friday after sinking Thursday following a short seller report alleging multiple instances of insurance fraud.
The short seller claims Globe Life had insurance policies written for fictitious and deceased individuals, forged signatures and had funds withdrawn from bank accounts without customer approval. It also alleges that fictitious bank accounts were used to fund fake insurance policies so employees met their bonuses.
Source: Insurance Report (insurancereport.net)
Globe Life Shares Rebound Short Seller Report Insurance Fraud Policies Fictitious Individuals Forged Signatures
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