Subject: Re: Re: Re: A.L. Williams Article

Comments:
: I am amazed that these writings are based on half truths and some people find a thrill on writing such garbage. But such seems to be the case when someone does something good in our society...there always seems to be people out there trying to knock them down. Thank you for all your negative unjustified feedback. : But I'd like to give a special thanks to Art Williams for waking up the Insurance Industry and helping consumers from getting taken by such a large uncaring industry. He has helped many reach financial goals, but you writers won't focus on that..to much greed in your own eyes. : Phil Newberry : : : I am looking for information regarding an article I read in the 1980's about A.L. Williams spending some time in jail over securities fraud or insurance problems. My friend claims there was a news article some years back detailing the particulars and I also seem to remember seeing a periodical article to that effect. Any help? : : ------------------------------------------------ : : Back in the 1980s I spoke with a Randy Sealth or Stelth over the issue. : : I think a more accurate description would be, "Randy who lived in Jacksonville at that moment in time was high up on the echelon of the ALW Sales Division. : : He became involved in an arguement so it is rumored with Art Williams over Randy wanting a larger piece of the pie of the total commission structure ALW through MILICO was receiving from the re-insurance companies. : : I have not heard any information that would indicate that Randy was fired or he quit then started his own general agency. : : Yes, my understanding with talking with Randy is that Randy took with him many disgruntled agents from the ALW General Agency including agents from other NASDs and RVPs units. : : Quite naturally those people took with them their policy records also of their clients. : : Accoding to Randy, he contended he could pay the agents in his agency a higher rate of commissions at the same level they were receiving at ALW and a temporary term life policy for a less expensive premium. : : Evidentally he was doing very well on his mission. This of course bothered the ALW organization and reportedly Art order a large group of shills local to him to join Randy's agency. : : Keeping in mind that re-insurers will pay a higher rate of commissions based upon conservation ratios (business that stays in-force), these shills were reportedly insturcted to write "bogus" life policies using gravestone names, street names, and telephone directory names of people. : : Quite naturally back then when life isurance companies weren't underwriting policies until a death claim was submitted, you might say these policies written by the shills were almost automatically issued. Then of course being that no further premiums exept the orginal premium was submitted by the shill, they would lapse with only one month premium paid on them. : : That of course would drive the conservation tummbling and the ratio commission way down. : : Well in that process somehow USA fraudulant mail became tied in to the happenings and Randy sued the ALW General Agency and reported to the FEDS "Mail Fraud". : : During the investigation into mail fraud Sandy Weill purchased the American Can Company known to be MILICOs parent company. The Williams General Insurance Agency belonged to Williams and not the American Can Company. : : What appeared to be the Federal problem the Williams Agency had created for the newly named Primerica Company and keeping in mind that the Williams General Agency had an exclusive brokerage contract with Primerica where everyone wanting to market and sell Primericas products, Primerica under Sandy Weill purchase from Art Williams his General Agency for a reported $105-million to be paid $35-million down and two yearly installments of $35-million each. : : It has been reported by quite a few people that Williams and the Feds worked out a plea bargain that if Williams would remove himself for ever from the insurance and financial services industry the Feds would drop the "mail fraud" charges against him. : : Williams has never returned to the industry. Reportedly Randy has left the industry also. : : Reportedly Randy's General Agency no longer exists. : : I do not any information that would tend to make me believe that Art Williams ever spent even one day in jail over the incident. : : I never heard from Randy again, but there have been many rumors circulating around about Williams. : : As most people know, Art Williams is not one of my favorite people and I am not one of his. : : This would be especially true since he financed four of his RVPs to initiate a lawsuit against me, I countersued them and Art and MILICO under the deceptive business practices laws. : : Although they initiated the lawsuit asking for an injunction to stop the training manual I had authored which exposed and debunked their false, misleading and deceptive inducement orchestrations, in an out of court settlement both MILIC (now Primerica) and the A.L. Williams General Agency (now known as the Primerica Sales Division) each paid me a sum of $37,500 which equates to $75,000; I didn not have to pay my own attoreny fees or court costs either. : : In addition to the above, what is now referred to Ken Young handing Art Williams a poisnon pill to swallow, as part of the settlement agreement Williams was required to post a statement I had prepared which they approved outlining fourteen points of their inducement presentations that was untrue. : : As I previously stated, I have no reason to believe that Art Williams ever spent one-day in jail. : : If he had spent some time in jail they should have used him at the half-time break at the prison rodeo show because he is one funny guy. : : This would be especially true when he gets all excited and riled up starting to stutter and yammer when may hear him shout, "well don't let the door hit you in your "arse" on the way out, loser".

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