Trial Date Set for ex-Louisiana Citizens CEO Lisotta

September 9, 2009

A judge has rejected an attempt to have criminal charges dismissed in a case against the former chief executive of Louisiana’s insurance company of last resort.

Terry Lisotta, former CEO of Louisiana Citizens Property Insurance Corp., tried to get the theft and fraud charges dismissed on grounds that the case was filed in the wrong jurisdiction. State District Judge Richard Anderson rejected that motion without explanation.

Lisotta pleaded not guilty to 14 counts of theft in February. He’s accused of improperly spending about $30,000 of the state-backed firm’s money.

The criminal charges stem from an investigation by the Legislative Auditor’s Office that questioned $106,000 of Lisotta’s expense reports from 2003-2006.

Lisotta is accused of submitting fictional expense accounts and getting reimbursed $3,321 for insurance conferences he did not attend or did not pay for. One count accuses Lisotta of getting $1,495 in Citizens reimbursements for fees to attend a property casualty industry conference in New York – though investigators say Lisotta, as a guest speaker, wasn’t charged the fee.

The judge set a trial date of March 22 for Lisotta.

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