Upstate Insurance Firm Implodes
Multiple lawsuits seek court-appointed receiver as CEO allegedly “stripped firm of assets and abandoned the company…”
Multiple lawsuits seek court-appointed receiver as CEO allegedly “stripped firm of assets and abandoned the company…”
2 comments
Not surprised. I personally know this company and its wonderful employees. They don’t deserve this!
I’ve known the principles in this mess for years, and things started going south with IAG maybe 5 years ago. Questionable hiring practices, questionable spending and use of resources, culminating with questionable withholding of employee and vendor payments owed. Really rapid decompression leading to a Hindenburg moment. There are still many questions about where all the money went ? Sounds like maybe some fraud is suspected judging from the growing pile of court papers I’ve seen.