Insurer Sues To Nix Coverage For Fraudster's Ex-GC

Law360, New York (January 13, 2014, 7:40 PM EST) -- An insurer is looking to avoid coverage of civil claims against the former general counsel for New Jersey investment firm Carr Miller Capital LLC, which allegedly ran a $40 million Ponzi scheme and whose president admitted last year to securities fraud and tax evasion.

Ironshore Indemnity Inc. hit Hercules Pappas and his former firm Pappas & Wolf LLC with a declaratory judgment suit on Dec. 30 in Essex County Superior Court, claiming it has no obligation to defend or indemnify them against malpractice litigation brought by...
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