On June 4, 2025, Morpheus Research published a report alleging that Abacus Global Management, Inc. uses fraudulent life expectancy data to inflate revenues. The report specifically claims that Abacus relies heavily on life expectancy reports generated by Lapetus Solutions, which it states are 'AI powered.'
The report asserts that former Abacus employees revealed the company built Lapetus life expectancies into its proprietary pricing tool and would not gather other life expectancy information. Morpheus Research alleges that the indicative value on a Lapetus life expectancy is 50% higher than with other providers.
Morpheus Research states that Abacus's reliance on Lapetus to value its portfolio presents a material risk to the $446 million in claimed life settlements on its books as of Q1 2025. This report has prompted several law firms to announce investigations into potential violations of federal securities laws by Abacus Global Management.
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