Camico Fights Coverage For $40M Class Action Fraud

Law360, New York (July 29, 2011, 3:59 PM EDT) -- Camico Mutual Insurance Co. sought Wednesday in Pennsylvania federal court to minimize its coverage liability for claims against accounting firm Heffler Radetich & Saitta LLP stemming from an ex-Heffler Radetich employee’s role in a $40 million scheme to defraud class action settlement funds.

Ex-Heffler Radetich accountant Christian J. Penta was sentenced to five years in prison in March after pleading guilty to criminal charges that he and five others stole more than $40 million from a BankAmerica Corp. settlement fund as well as settlement funds established...
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