Judge Acquits 4 Insurance Execs, Ends Bailout Fraud Trial

Law360, New York (February 16, 2012, 2:29 PM EST) -- A federal judge has acquitted four insurance executives accused of defrauding a Florida insurance bailout fund of $20 million, pulling the plug Tuesday evening on a jury trial after six full days, a lawyer for the defendants told Law360 on Thursday.

Tallahassee, Fla., U.S. District Judge Robert L. Hinkle came to the conclusion that the defendants — Vanguard Fire and Casualty Co. executives William Sanders, Thomas Stinson, Richard Magsam and John Henry Axley III — had disclosed their motives for seeking the money from Florida's Hurricane...
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