IIE syndicate owner sued. (Illinois Insurance Exchange operator Jeffery W. Beresford-Wood)

Business Insurance | September 28, 1998| | Copyright

Illinois insurance regulators file racketeering charges

CHICAGO - The management of a defunct Illinois Insurance Exchange syndicate looted the syndicate of millions of dollars in a series of fraudulent investment and reinsurance deals with affiliated companies, Illinois insurance regulators allege.

Illinois regulators liquidating Geneva Assurance Syndicate Inc. have filed a racketeering lawsuit charging that syndicate operator Jeffery W. Beresford-Wood and several others plotted to strip valuable Geneva assets and replace them with worthless stock, money-losing ...

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