(c) 2017 Jon L Gelman, All Rights Reserved.

Tuesday, March 25, 2014

A Real Mess

Corporate fraud is a major problem in the workers' compensation system.Today's guest post authored by David Depaola is shared from and highlights a very serious problem with the nation'a workers' compensation system.

What do Oklahoma, New York, Washington, Kentucky and Florida have in common?

If it's workers' compensation, then the connection is a far reaching scheme involving millions of dollars, failed insurance companies and professional employer organizations.

A federal grand jury in New York back in October 2012 indicted Wilbur Anthony Huff, principal behind a couple of professional employer organizations, Matthew Morris, Park Avenue Bank's former senior vice  president, and Allen Reichman, the former director of investments at New York investment house Oppenheimer & Co. 

that Huff and Morris engaged with former bank president and Chief Executive Officer Charles Antonucci in an elaborate conspiracy to plunder Park Avenue Property and Casualty, formerly known as Providence Property and Casualty Insurance Co., and its subsidiary, Imperial Casualty and Indemnity, and artificially inflate the bank's assets to secure funding from the federal Troubled Asset Relief Program.

U.S. Attorney Preet Bharara said in a press release that Huff, who secretly controlled South Florida PEOs O2HR and Certified HR Services, was at the "vortex of fraud" in a series of schemes involving more than $100...
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Read more about "corporate fraud" and workers' compensation:
Nov 03, 2011
"Fraudulent practices by publicly held corporations have contributed to the economic difficulties currently facing our nation," said OSHA Assistant Secretary Dr. David Michaels. "The best way to prevent this from happening in ...
Jul 12, 2012
Corporate Workers Compensation Fraud: California Targets Underground Economy. Sweep targets contractors operating in California's underground economy. Insurance Commissioner Dave Jones today announced that a ...
Jul 11, 2012
OSHA: Corporate Fraud Contributed To Nation's Economic Problems. The U.S. Department of Labor's Occupational Safety and Health Administration will publish interim final rules in the Nov. 3 Federal Register that revise the .