RICHMOND, Va. (AP) — A lawyer for a former Texas businessman who helped orchestrate a $100 million life insurance fraud scheme urged a federal appeals court Tuesday to toss out his convictions and 60-year prison sentence.

A federal jury in 2011 convicted Adley Abdulwahab of Spring, Texas, on 15 counts of conspiracy, wire fraud, securities fraud and money laundering.

Abdulwahab, 37, was one of the executives for a group of companies called A&O that used investor funds to buy life insurance policies from the policyholders at less than face value. Investors were supposed to be paid when the insured died, but A&O's partners spent their money on lavish lifestyles rather than safeguard the funds and pay premiums.

The scam claimed more than 800 victims in 36 states and Canada. Many lost their life savings.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.