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Larry King says he is a victim of an insurance scam, thesmokinggun.com reports.
In an Oct. 22 complaint filed in U.S. District Court in Los Angeles, the CNN host claims the Meltzer Group persuaded him to participate in “highly complex life insurance transactions” that caused him to purchase and flip policies with an aggregate value of $15 million.
In one case, the lawsuit says King bought a $10 million policy and was instructed to sell it right after for a $550,000 profit.
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