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Re: CALIFORNIA INSURANCE CHIEF RESIGNS IN SCANDAL


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Posted by tonyb on March 15, 2001 at 08:14:22:

In Reply to: CALIFORNIA INSURANCE CHIEF RESIGNS IN SCANDAL posted by Sure-Net on July 09, 2000 at 06:40:12:

PROBE LOOKS AT LLOYD'S-QUACKENBUSH LINK

By VIRGINIA ELLIS, Times Staff Writer

SACRAMENTO--A New York federal task force investigating Lloyd's of London has broadened its probe to California, where it has subpoenaed records and conducted interviews on the insurance giant's relationship with former regulator Chuck Quackenbush.

The focus of the California probe is a $400,000 payment that Lloyd's made to the state after the former state insurance commissioner took the British insurer's side in a fraud suit.

A federal grand jury subpoena ordered the department to produce all its records relating to the transaction, including documents showing that Quackenbush's staff produced a phony invoice to hide the payment by characterizing it as a bill
for "educational briefings."

State officials, who asked not to be identified, said federal investigators have removed seven boxes of files from the department's executive offices.

A team that includes two assistant U.S. attorneys from New York, Michael Taybak and Barbara Guss, and a postal inspector began interviewing witnesses this week.

Full story at Los Angeles Times
http://dailynews.yahoo.com/h/latimes/20010314/lo/probe_looks_at_lloyd_s-quackenbush_link_1.html

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