Thursday, October 11, 2007

Federal Prosecutors Issue Subpoena to Terry Lisotta

When will the theft and fraud end in Louisiana? US Attorney Jim Letten is extremely busy these days.


Federal prosecutors have issued a subpoena to the former chief of Louisiana's taxpayer-backed insurance company, who's been accused of theft, fraud and malfeasance.

Terry Lisotta, CEO of Citizens Property Insurance Corp. until early this year, will comply with the grand jury subpoena for documents, his lawyer, David Courcelle, told The Times-Picayune.

Legislative Auditor Steve Theriot, in an audit released early this month, found Lisotta might have illegally spent over $1 million on travel, meals, and other expenses. The audit suggested Lisotta broke state laws in his use of the firm's money.

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