This company has questionable ethics and competence issues.
They showed their incompetence in the NCDOI claim under the late Mr. James E. Long against Mr. Willliam C. Shakelford and Interstate Casualty Insurance Company. Their expert insurance accounting examiner didn’t understand the difference between admitted assets and non-admitted assets in determining an insurers solvency.
Mr. Shackleford wasn’t convicted of embezzing 30 million dollars. These non-admitted assets were paid to the NCDOI in 1992. Wachovia Bank & Trust turned over $17 million in certificate of deposits and Munich of New York paid over $13 million. Munich of New York had failed to pay a reinsurance claim within 120 days after Hurricane Hugo.
In the late 1980’s we had the Savings and Loans scandal. In early 1990’s the FDIC started a more strict examination of the banks. Was this the reason why the Wachovia city executive had the comptroller of Interstate Casualty to illegally pledge corporate assets of $17 Million for personal unsecured loans.
Ernst & Young, LLC even screwed up Mr. Ernst’s estate. His estate paid out huge estate taxes and is recognized as one of the two (2) worth examples of estate planning. Mr. Joe Robbie’s estate has been recognized as the worst plan. And, Elvis’ estate had been ranked third (3rd) worst.
Ernst & Young, also, had outstanding tax issues of its own according to several news agencies in the early 2000’s. And, they have been identified with an illegal tax evasion scheme by the IRS using two investments in foreign currencies. The taxpayers were liable for all taxes, penalties, and interest. Ernst & Young, LLC was sighted by 60 Minutes or 20/20 as the creator of the tax scheme.
The State of New York needs to file criminal charges against Ernst & Young, LLC. Wachovia has gotten paid back for their role in Interstate Casualty and their subsiduary First Union’s role in National Workers Compensation Fund of North Carolina insolvency.
We have no tears in North Carolina for Ernst & Youngs, LLC.
This company has questionable ethics and competence issues.
They showed their incompetence in the NCDOI claim under the late Mr. James E. Long against Mr. Willliam C. Shakelford and Interstate Casualty Insurance Company. Their expert insurance accounting examiner didn’t understand the difference between admitted assets and non-admitted assets in determining an insurers solvency.
Mr. Shackleford wasn’t convicted of embezzing 30 million dollars. These non-admitted assets were paid to the NCDOI in 1992. Wachovia Bank & Trust turned over $17 million in certificate of deposits and Munich of New York paid over $13 million. Munich of New York had failed to pay a reinsurance claim within 120 days after Hurricane Hugo.
In the late 1980’s we had the Savings and Loans scandal. In early 1990’s the FDIC started a more strict examination of the banks. Was this the reason why the Wachovia city executive had the comptroller of Interstate Casualty to illegally pledge corporate assets of $17 Million for personal unsecured loans.
Ernst & Young, LLC even screwed up Mr. Ernst’s estate. His estate paid out huge estate taxes and is recognized as one of the two (2) worth examples of estate planning. Mr. Joe Robbie’s estate has been recognized as the worst plan. And, Elvis’ estate had been ranked third (3rd) worst.
Ernst & Young, also, had outstanding tax issues of its own according to several news agencies in the early 2000’s. And, they have been identified with an illegal tax evasion scheme by the IRS using two investments in foreign currencies. The taxpayers were liable for all taxes, penalties, and interest. Ernst & Young, LLC was sighted by 60 Minutes or 20/20 as the creator of the tax scheme.
The State of New York needs to file criminal charges against Ernst & Young, LLC. Wachovia has gotten paid back for their role in Interstate Casualty and their subsiduary First Union’s role in National Workers Compensation Fund of North Carolina insolvency.
We have no tears in North Carolina for Ernst & Youngs, LLC.