Former Deputy Insurance Commissioner Convicted of Racketeering in Operation Blighted Officials
| Federal Information & News Dispatch, Inc. |
Former Deputy Insurance Commissioner Convicted of Racketeering in Operation Blighted Officials
At today's hearing, Chambers admitted that, while serving as Deputy Commissioner for the
Insurance Kickback Scheme
At today's hearing, Chambers admitted that he created a scheme whereby he would use his official position to steer insurance business from municipalities and other sources to a licensed insurance agent in exchange for bribes. Chambers admitted that, after attempting the scheme with an undependable agent, Chambers enlisted the participation of a different insurance agent to execute the scheme. Unbeknownst to Chambers, the insurance agent he enlisted was an undercover special agent with the
Chambers admitted that, in
Cifer 5000 Bribery Scheme
At today's hearing, Chambers also admitted to engaging in a bribery scheme with an individual he believed to be a venture capitalist affiliated with the insurance agent and involved with a conceptual trash can cleaning product known as the "Cifer 5000." The Cifer 5000 was a product marketed as an automated waste container cleaning system using specially designed and equipped trucks to clean and sanitize commercial and residential waste containers. Its potential customer pool was represented to be governmental entities. Unbeknownst to Chambers, the venture capitalist was an undercover
Chambers admitted that, in
Status of Other Operation Blighted Officials Defendants
This ongoing investigation is being conducted by the
Operation Blighted Officials is being prosecuted by Assistant United States Attorneys
| Copyright: | (c) 2011 Federal Information & News Dispatch, Inc. |
| Wordcount: | 993 |



PZU, the Largest Insurance Company in CEE Selects Guidewire Solution for Rating, Underwriting, Policy Administration, Billing, Reinsurance, and Client Data Management
Advisor News
- How smart investments prepare clients for inflation
- Amid slew of corporate tax ideas, Newsom chose one likely to hit people’s premiums
- The biggest risk to your clients’ financial plans isn’t market volatility
- Initiative looks at how caregiving impacts workplace benefits
- Will rising retirement needs spark an annuity boom?
More Advisor NewsAnnuity News
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- Fortitude Re Completes $500 Million FABN Issuance
- Reframing retirement income for greater certainty
- Jackson Introduces Dow Jones Industrial Average Index Option, Flexible Premiums, Six-Year Rate Guarantee in Latest Registered Index-Linked Annuity Launch
- Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
More Annuity NewsHealth/Employee Benefits News
- Final rules for Medicaid work requirements are out. Here's what you need to know.
- Hyde-Smith blasts health care delays
- WNY health insurers seek rate hikes of 9% to 24% for 2027
- Healthcare now costs more than mortgages
- Fairview won’t accept seniors with UnitedHealth Medicare Advantage plans next year
More Health/Employee Benefits NewsLife Insurance News
- AM Best Affirms Issue Credit Ratings of Weston2038 LLC’s Credit-Linked Notes
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- Greg Lindberg moves to halt $1.65B restitution order, claims he ‘overpaid’
- Fidelity Investments® to Expand Target Date Lineup With Launch of Guaranteed Income Solution
- KBRA Releases Research – Private Credit: Much Ado About Nothing – Perspectives on Columbia Business School Paper About Private Ratings
More Life Insurance News