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
- Help women break through their retirement roadblocks
- Advisors await SEC decision on Vanguard fair fund distribution
- What to do when adult children become the client
- Judge rules insurers not liable for Newport Group’s AME Church pension lawsuit
- Why vacation homes are becoming a major blind spot for advisors
More Advisor NewsAnnuity News
- Legacy Marketing Group partners with Malibu Life USA for annuity launch
- Best’s Market Segment Report: Global Life/Annuity Reinsurers Remained Poised for Steady Growth
- When technology becomes easy to rent, what still separates life and annuity carriers?
- Legacy Marketing Group® and Malibu Life USA Announce Distribution Partnership for New Fixed Indexed Annuity Platform
- Empower Annuity Insurance Company of America Trademark Application for “EMPOWER WHAT’S NEXT” Filed: Empower Annuity Insurance Company of America
More Annuity NewsHealth/Employee Benefits News
Life Insurance News
- How advisors can get clients to act sooner on life insurance
- AM Best Affirms Credit Ratings of Crum & Forster Insurance Group’s Members and Monitor Life Insurance Company of New York
- AM Best Affirms Credit Ratings of Life Insurance Company Centras Life JSC
- AM Best Withdraws Credit Ratings of New Providence Life Insurance Company
- When technology becomes easy to rent, what still separates life and annuity carriers?
More Life Insurance News