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[VA LG Race]Two Reciprocal executives sentenced in insurance scandal
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Race
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| Contributor | FreedomDemocrat |
| Last Edited | FreedomDemocrat Jun 29, 2005 11:21pm |
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| Category | News |
| Media | Newspaper - Richmond Times-Dispatch |
| News Date | Thursday, June 30, 2005 05:00:00 AM UTC0:0 |
| Description | Two former executives of a failed Virginia insurer were sentenced in federal court Tuesday as part of an ongoing fraud investigation that has helped expose troubling practices in the industry.
Kenneth R. Patterson, former president of Reciprocal of America, was sentenced to 12 1/2 years for conspiracy to commit insurance fraud and two counts of mail fraud. Carolyn Hudgins, former executive vice president, was sentenced to five years for conspiracy to commit insurance fraud.
Both defendants, who are in their 50s, pleaded guilty in January and agreed to cooperate in the investigation.
Reciprocal, based in Richmond, Va., insured tens of thousands of doctors, lawyers and hospitals. Its collapse in late 2002 left policyholders scrambling to find insurance, and thousands may be liable for malpractice and other claims.
NOTE: Although not mentioned in this article, State Senator Bill Bolling (R) worked as a manager for Reciprocal for 22 years and eventually became a Vice-President. It is possible that this story will die off or continue to develop. |
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