Lawyer Accused In Ponzi Scheme Duped Us Too: Insurer

Law360, New York (February 7, 2012, 8:31 PM EST) -- An Argo Group US Inc. subsidiary sued Kwasnik Kanowitz & Associates PC in New Jersey federal court Tuesday, hoping to nix a professional liability policy that covered a lawyer currently in jail who was accused of running an $8.5 million Ponzi scheme targeting elderly investors.

Colony Insurance Co. claims the Philadelphia law firm was dishonest on its application for the insurance policy and concealed that its attorney Michael W.Kwasnik had faced legal malpractice claims and disciplinary actions.

According to the suit, when Kwasnik applied for the...
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