Toolsview all


Gene Stipe, government settle civil lawsuit

 
BY SUSAN HYLTON - Tulsa World | Published: May 7, 2010    Comment on this article Leave a comment

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.

photo - Gene Stipe: Stipe denied the allegations but agreed to pay the $100,000 to avoid further litigation, records show.
Gene Stipe: Stipe denied the allegations but agreed to pay the $100,000 to avoid further litigation, records show.

Multimedia

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

Toolsview all



Related Topics: Business, Civil Trials, Trials, Personal Finance, Insurance, Crime and Law



Leave a Comment

Thank you for joining our conversation on NewsOK.com. We encourage your discussion but ask that you stay within the bounds of our commenting and posting policy. Please help by flagging comments that violate these guidelines. Posts that contain obscene or vulgar language will be immediately flagged and not posted.

If you prefer your thoughts to appear in The Oklahoman, we encourage you to submit a letter to the editor.

Would you like to leave a comment?

Log in or sign up (it's free).

comments powered by Disqus

Ads by Yahoo!

53yr Old Woman, Looks 25
53yr Old Mom publishes 1 simple wrinkle trick that has angered doctors.
www.ConsumerLifestyleMag.com
Woman is 53 But Looks 24
Mom reveals simple wrinkle secret that has angered doctors...
ConsumerLifestyles.org

News Photo Galleriesview all