Ex-La. Insurance Official Admits To Bribery

Law360, New York (July 18, 2012, 5:08 PM EDT) -- A former deputy insurance commissioner in Louisiana pled guilty Monday to taking bribes in exchange for steering insurance business from municipalities and providing an official letter of support to boost investment in a fictitious trash can cleaning product conjured up by the FBI.

The U.S. Attorney's Office for the Middle District of Louisiana said Richard Chambers Sr., 67, admitted to using an interstate facility in aid of racketeering and agreed to forfeit the more than $11,000 that he gained through two bribery schemes.

Prosecutors said Chambers...
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