Iowa Insurance Commissioner Doug Ommen encouraged his colleagues to craft a pointed comment letter to the Department of Labor to set the record straight on its fiduciary proposal.
A coalition of major trade groups is calling for the NASAA to withdraw proposed changes to its business rules, calling them “unnecessary.”
A couple’s fight to get a $14,729 tax refund made it to the U.S. Supreme Court this week in a case that might upend the federal tax code.
The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for November. The actions are…
David “Birny” Birnbaum, a longtime National Association of Insurance Commissioners-sponsored consumer liaison, is retiring from those duties.
State insurance regulators made it to the finish line Monday with a bulletin advising insurers on use of artificial intelligence and related technology by insurers.
De Groft, who was fired in June 2022 days after the FBI raided the“ Heroes& Monsters” exhibit of art attributed to the late artist Jean-Michel Basquiat, spoke with the Orlando Sentinel on multiple topics, including his firing and dealings with the museum’ s board, days after countersuing OMA in response to the institution "s fraud suit against him and the owners of the…
Former President Trump and Deutsche Bank's years-long symbiotic relationship came to the forefront of his New York civil fraud trial this week when top executives who once loaned the former president's business hundreds of millions of dollars gave the most compelling defense yet in his trial. The executives bolstered arguments Trump's counsel has made…
The Fed raised the possibility that capping inflation at 2% might not be achieved without another tweak or two to the federal funds rate.
The U.S. Attorney for the Northern District of Texas, Leigha Simonton, issued the following news release:. A Tulsa, Oklahoma man who submitted fraudulent insurance claims for COVID-19 testing, resulting in a more than $7 million loss to insurers was sentenced Wednesday to 54 months in federal prison, announced U.S. Attorney for the Northern District of Texas…
COLUMBUS, Ohio– A former executive with a Columbus- based insurance company pleaded guilty to embezzling more than $10.2 million and spending the money on a yacht, plastic surgery, and other luxuries. Brinson Caleb Silver, 43, of Culver City, California, pleaded guilty to one count of wire fraud and one count of contempt of court and has agreed to pay more than $10.2…
For years, South Carolina attorney Alex Murdaugh looked his anguished clients in the eyes and promised to help them with their medical bills, their suffering or simply to survive. I'm crying for what he did to everybody, "said Jordan Jinks, a friend of Murdaugh's since childhood. The emotional testimony came as the disgraced lawyer waited to see if a judge would…
As the COVID-19 pandemic tanked the economy, South Florida developer Eric Sheppard turned to the U.S. government for help and received about $900,000 in fraudulently obtained loans that his business really did not need or qualify for, a prosecutor said during opening statements in his Miami federal trial Monday. Sheppard used the emergency loans for…
For years, South Carolina attorney Alex Murdaugh looked his anguished clients in the eyes and promised to help them with their medical bills, their suffering or simply to survive. The courtroom drama will mark yet another step in the fall of a powerful and respected attorney whose family name dominated the legal scene in a small Hampton County for generations,…
A Washington state judge denied a bid by insurer Crum & Forster to terminate a lawsuit over cybersecurity event at a Seattle logistics company.
A Slidell man is headed to prison in a national scam to pilfer mail from blue collection boxes, steal the victims' identities and cash fraudulent checks in their names. Federal prosecutors say Ronald S. Riley Jr., 28, gained $250,000 from his crimes. His crimes came in a national outbreak of mail thefts made possible by someone stealing, duplicating and selling the…
The Life Insurance and Annuities Committee approved its 2024 work charges Tuesday with no comment.
PUNTA GORDA— A Port Charlotte man turned himself in to Charlotte County deputies on a warrant for contracting fraud. Randall Scott Ruppert, 51, arrived at the Charlotte County Jail on Nov. 18 to surrender on a warrant for his arrest. Ruppert was initially investigated by the State Attorney's Office for the 20th Judicial Circuit; the complainant lived in Lee…
NEW YORK— Tears were shed at the Trump Organization's fraud trial Tuesday when longtime company controller Jeffrey McConney fell to pieces on the witness stand testifying about the dramatic conclusion to his storied career working for Donald Trump. McConney, who for decades worked in the accounting department at the Trump Organization under convicted…
Eduard Ghiocel and his wife, Floarea Ghiocel, were sentenced in federal court today to 36 months and 30 months, respectively, for laundering $1.4 million in proceeds from dozens of grand thefts, robberies and swindles targeting mostly elderly victims in San Diego County. Eduard and Floarea Ghiocel admitted wiring proceeds from the jewelry thefts and the…
