Florida is suing the officers, directors and affiliates of three former Florida homeowners insurers, charging in court papers that the defendants bankrupted the companies with a fraudulent scheme that siphoned off assets.
The legal action was announced by Florida Chief Financial Officer Alex Sink on behalf of the Department of Financial Services.
According to her statement, lawyers for DFS–the court-appointed receiver of Atlantic Preferred Insurance Company, Florida Preferred Property Insurance Company and Southern Family Insurance Company (Poe Companies)–have now determined the state has the right to recover additional money.
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