Gene Stipe, government settle civil lawsuit

BY SUSAN HYLTON - Tulsa World Modified: May 7, 2010 at 5:23 am •  Published: May 7, 2010
Advertisement
;
MUSKOGEE — The government’s civil case against former state Sen. Gene Stipe, 83, for selling title insurance as a convicted felon has been settled for $100,000.

The government filed a civil complaint against the McAlester Democrat in August 2008 alleging that Stipe had legal liability for engaging in the insurance business after being convicted of a felony involving dishonesty and breach of trust.

The permissible measure of damages could have been the profit Stipe derived from violating the statute. Or it could have been $50,000 for each violation or insurance policy sold, which was computed at $105 million, which conceivably could have wiped out or compromised Stipe’s personal wealth.

Stipe denied the allegations but agreed to pay the $100,000 to avoid further litigation, according to a stipulation filed in the case.

Click here to read the complete article at Tulsaworld.com


Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Hotel leaves Oklahoma City Thunder opponents telling ghost stories
  2. 2
    Check out the Thunder postseason playlist
  3. 3
    VIDEO: Blake Griffin dumps water on a fan
  4. 4
    Oklahoma City Thunder: Grizzlies guard Nick Calathes calls drug suspension unfair
  5. 5
    Dave Chappelle Reveals Shockingly Buff New Look
+ show more