MIAMI— In a politically fraught Medicare fraud case, a deal appears to be in the works between the Justice Department and a South Florida health care executive whose 20- year prison sentence was commuted by former President Donald Trump, according to law enforcement sources familiar with the negotiations. A plea deal, a more likely scenario that would require…
News coverage of insurance industry and financial advisor regulation.
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As regulation lags, panel urges actuarial AI frameworks
Actuarial businesses should implement their own AI governance frameworks, as official regulation is lagging, a panel of experts recommended.
NEW YORK— Donald Trump's lower Manhattan court cases continued to pick up speed Thursday— as the former president was temporarily freed from a gag order in his civil case and criminal prosecutors argued his political power shouldn't shield him from accountability in his criminal one. First Department Judge David Friedman cited constitutional concerns in…
NEW YORK— Donald Trump filed for a mistrial in his Manhattan Supreme Court fraud case Wednesday, alleging "anti Trump/big real estate bias" on the bench preventing him from getting a fair shake. Lawyers for the former president filed the anticipated motion during the third day of his defense case, repeating much of the same bias allegations they and Trump have…
George Santos, which some lawmakers expect will be damning— and potentially the final straw for the New York Republican's radioactive run in Congress. "I think the report is going to confirm what he's admitted to, which is he's a fraud and should not be a member of Congress," Rep. While the report will mark the closing salvo from the Ethics Committee, it is expected to…
Public hearing date set for DOL fiduciary rule; House GOP rallies in opposition
The Department of Labor denied a request for an extension of a public comment period for its controversial fiduciary rule package. A public hearing will be held next month.
George Santos, R- N.Y., charged with impersonating an aide to former House Speaker Kevin McCarthy to solicit donors has pleaded guilty to fraud, in the latest legal blow to the embattled freshman congressman. Sam Miele, 27, who pleaded guilty Tuesday to a federal wire fraud charge, also admitting to making about $100,000 worth of fraudulent credit card charges,…
National Flood Insurance Program nears Nov. 17 expiration
The National Flood Insurance Program is set to expire later this month and requires Congressional reauthorization.
How captive and independent agents are affected by the DOL rule
The new DOL fiduciary rule is 500 pages. The biggest fight will come down to how agents – independent and captive agents – are regulated.
Jon Walker was sentenced in federal court by U.S. District Court Judge James Peterson after Walker pleaded guilty to wire fraud July 11. According to federal prosecutors, Walker fraudulently obtained two Department of Defense contracts at Fort McCoy by falsely claiming his business, Walker Investment Properties, was a service-disabled, veteran-owned…
KANSAS CITY– A former bank branch manager in Kansas City has pleaded guilty in federal court to accepting Kansas City Chiefs playoffs tickets and a new Chevrolet Tahoe in exchange for facilitating a $12.4 million Covid fraud scheme by a Jefferson City, Mo., business owner, as well as a separate fraud scheme to receive unemployment benefits, according to the…
Fiduciary rule goals look suspiciously similar to SEC agenda, analyst says
Oversight of fixed indexed annuities remains just beyond the reach of federal regulators, but analysts are starting to see a coordinated effort to change that.
Trade groups ask DOL for an extension of fiduciary rule comment period
Eighteen financial services industry and business trade groups sent a letter to the Department of Labor today asking for an extension to the 60-day public comment period for its controversial fiduciary rule package.
Ivanka Trump is expected to take the stand Wednesday as the New York attorney general's final witness in its far-reaching fraud case against her father and family's business. But on Wednesday, her past life as a Trump Organization executive could be put under a microscope as lawyers for the state of New York question her over her role in several Trump real…
COLUMBIA, S.C.- The clerk of court accused of tampering with the South Carolina jury that found Alex Murdaugh guilty of two counts of murder denied asking jurors if they thought he was guilty before deliberations or suggesting she thought he killed his wife and son. The sworn statement from Colleton County Clerk of Court Rebecca Hill was filed Tuesday by…
Amondo Antoine Miller, Tashena Lavera Crump and Ballam Hazeakiah Dudley, are among five dozen people indicted in what federal prosecutors say was a conspiracy that operated for two decades from "boiler room" call centers in 10 states, including Minnesota. The U.S. Attorney's Office in Minneapolis says this is among the largest telemarketing scams that the…
Ivanka Trump tried to get out of traveling to NYC to testify in her father's civil fraud trial Wednesday, and the attempt backfired— badly. Trump shares three kids with Jared Kushner: Arabella, 12, Joseph, 10, and Theodore, 7.. It's unclear how many nannies or babysitters Ivanka and husband Jared Kushner actually do employ, and we do think Wortman was being sardonic.
Labor Department sets comment schedule for new fiduciary proposal
The Department of Labor is accepting comments on its new fiduciary proposal through Jan. 2, 2024 and plans a public hearing soon.
The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for October. The actions are…
Sovereign Nations Insurance has signed a settlement agreement with Insurance Commissioner Mike Kreidler and has agreed to cease its operations…
