Declarations

Skip Free Advice

“Seniors should be wary of unsolicited offers of free advice, especially if they are asked to divulge personal financial information, such as listing their income and assets.”

Comment made by Illinois Attorney General Lisa Madigan when she announced her office filed two lawsuits against companies that allegedly used deceptive, unsolicited mailers to target senior citizens. The companies used the mailers to obtain personal financial information to develop sales leads for insurance agents to sell annuities and other insurance products. According to Madigan’s complaint, seniors who respond to these mailings are not told their personal financial information may be used as leads for insurance agents, telemarketers, or others who may later try to persuade them to buy annuities and other insurance products.

Source: Illinois Attorney General’s Office

No Sundae Picnic

“Cherry has not been accused of any wrongdoing. He got the contract because of his qualifications and his six months of work resulted in $260 million in restitution to policy holders.”

Susan Hofer, a spokesperson for the financial and professional regulation Department of the Governor’s office commented on criticism that a prominent Democratic fundraiser for Illinois Gov. Rod Blagojevich was awarded a $900,000 no-bid state contract months after being cut from an investment proposal that has drawn scrutiny from federal investigators, according to a published report. The Blagojevich administration awarded Chicago attorney Myron “Mike” Cherry a contract to represent Illinois in a three-state investigation of insurance brokers in December 2004, the Chicago Sun-Times reported. Cherry’s fees as a special examiner for the Department of Financial and Professional Regulation totaled $900,000, the agency said.

Source: Associated Press

Corruption Denial

“I find it a disgrace anybody would even try to mention … that I brought some corruption here … I have never in my life participated in corruption … I will not tolerate it. I would report my own mother for it.”

Heated reply by Charles “Sandy” Blunt to the Board of Directors of North Dakota’s Workforce Safety and Insurance Agency regarding whether he was aware that a man he formerly supervised in Ohio was taking payoffs to steer state investment contracts to people he favored. Board members said they had recently gotten phone calls about the case of Terrence Gasper, the former chief financial officer of the Ohio Bureau of Workers Compensation, who pleaded guilty in June to a federal racketeering charge.

Source: Associated Press

Topics Illinois