Ex-CEO Of La. Insurer Pleads Not Guilty To Theft

Law360, New York (February 2, 2009, 12:00 AM EST) -- The ex-chief of a state-backed insurance company in Louisiana has entered a not guilty plea in a case alleging that he squandered company money on travel and entertainment expenses that included cigars and fine dining.

On Monday, Terry Lisotta appeared in a Baton Rouge, La., courtroom to answer charges that he stole funds from Louisiana Citizens Property Insurance Corp., where he served as CEO until April 2007.

Lisotta is facing 14 counts of theft and has been accused of misappropriating at least $30,000 of the company's...
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