Any laws passed on requiring City and Town officials who accept Surety Bonds from contractors to be held accountable for not performing due diligence on the bonds they accept?
I am currently working on putting together information that shows 4 Towns who have suffered losses because those Town’s did not perform the simplest due diligence of confirming that the Bonding Companies (Great northern Bonding LTD and Newport Insurance Company Inc was licensed to sell surety products in those Towns.
It is my opinion that there is definitely a trace of employees misconduct in which it was uncovered that employees who work for the Town of Fairfield, CT had accepted 4 fraudulent performance bonds from one contractor.
To learn more about this fraud “Google up” Leo M. Rush and the two bonding companies I mentioned in this post of mine. Rush’s offices and home were raided a month ago after it was discovered that Leo M. Rush of Pelham, NH had been the ring leader in the most recently discovered in the $100 million dollars Error and Omission policies fraud that was operating out of Utah and Nevada since 2016.
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Any laws passed on requiring City and Town officials who accept Surety Bonds from contractors to be held accountable for not performing due diligence on the bonds they accept?
I am currently working on putting together information that shows 4 Towns who have suffered losses because those Town’s did not perform the simplest due diligence of confirming that the Bonding Companies (Great northern Bonding LTD and Newport Insurance Company Inc was licensed to sell surety products in those Towns.
It is my opinion that there is definitely a trace of employees misconduct in which it was uncovered that employees who work for the Town of Fairfield, CT had accepted 4 fraudulent performance bonds from one contractor.
To learn more about this fraud “Google up” Leo M. Rush and the two bonding companies I mentioned in this post of mine. Rush’s offices and home were raided a month ago after it was discovered that Leo M. Rush of Pelham, NH had been the ring leader in the most recently discovered in the $100 million dollars Error and Omission policies fraud that was operating out of Utah and Nevada since 2016.