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Subj: MONY
Date: 12/1/98 2:33:33 PM Pacific Standard Time
From:
RAbshire
To: ksebelius@ink.org
CC: kwittman@ins.wpo.state.ks.us
Ms. Kathleen Sebelius December 1, 1998
Commission
of Insurance
State of Kansas
Dear Ms. Sebelius:
In response to an article published in the Northwest Arkansas
Times on October 24th of this year MONY raised questions regarding the possible need for regulators to examine my work as
an agent. From 9/1/71 through 1/9/91 I held positions as a career agent and in sales management in the Dallas Ft. Worth area
of Texas. I also held a nonresident license in Kansas. Over the course of this nearly 20 year period of time I wrote or caused
to be written thousands of policies representing 100s of millions of dollars in life insurance face value. Some of this business
was written on the lives of Kansas residents. It has now become apparent that some of the contracts being offered by MONY
during the 1980s were fraudulent and designed to generate cash flow to cover-up illegal activities by officers and directors.
The issues raised in the documents that I supplied your Fraud Unit attorney, Ms. Karen Wittman, speak for themselves.
The Consent Order signed by MONY as the result of the Florida investigation of their 1994 financial statements makes it crystal
clear that MONY was insolvent and that Officers and Directors of the company had committed serious illegal acts.
As
you are aware, Bill Nelson and the Florida Department of Insurance have refused to answer a Public Records request for the
information regarding the illegal loans by Officers and Directors of the company that was cited in the Consent Order. I believe
those loans and subsequent losses were made by prior management of the company and covered up by the New York Department of
Insurance. You need look no further than the property at 3700 Buffalo Speedway in Houston, Texas that Goldman Sachs and Neil
Levin helped place on MONY's books in May of 1988 for over $16,000,000 to figure out what Mr. Levin has to hide. Serious
money has been looted from this company and elected officials have gone to great lengths to help shelter the theft of policyholders
assets.
The law requires that insurance companies file accurate, concise and complete financial statements that have
been audited by an "independent" accountant. During June of 1994, the New York Department of Insurance signed off on the 1992
"AUDIT" that had been conducted by the New York, Oklahoma, Georgia and Nevada Departments of Insurance in accordance with
N.A.I.C. standards. The audit, which revealed $600,000,000 in illegal transactions failed to mention the Secret Phantom
Stock Plan for officers and the millions of dollars in payments that were not disclosed on the Schedule G filings. New York
would later lie about having any knowledge of the Plan and then grant "Trade Secret" status to it to keep policyholders from
finding out how much had been stolen as the result of the illegal transactions. Coopers and Lybrand L.L.P. had issued "Unqualified
Opinion" letters stating that they were "Independent" on all of MONY's financial statements for many years. In September of
1994 Coopers and Lybrand acted as the vendor on the sale of a bond from Anthony Crane Rental L.P. to MONY. This transaction
created a "Conflict" and according to the Rules of Professional Conduct they were no longer "Independent." Coopers and Lybrand
has continued to issue "unqualified opinions" falsely claiming to be "Independent" when in fact, they are not! The Florida
investigation of MONY's 1994 financial statements clearly lays the blame at the feet of Coopers and Lybrand L.L.P. who at
that time was under investigation for criminal
acts in Arizona which resulted in fines, community service and 2 years probation.
Will you confirm that MONY has filed false financial statements in Kansas, that Coopers and Lybrand L.L.P. was not
"Independent" and help me obtain the information relating to the illegal loans to Officers and Directors that was revealed
in the Consent Order?
Your help with this matter will be greatly appreciated. Please do not hesitate to contact me
for additional information or questions. You may reach me day or night at 817 267-2020 fax 817 267-5055 or e-mail RAbshire@aol.com.
Respectfully,
R.
Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034
Ms. Bonnie Steingart
General Counsel
New York
Dept. of Insurance
Sent via fax: 212 480-5272
Dear Ms. Steingart,
This is to confirm that the Glaser
letter dated January 6, 1998 (copy attached) is in response to my F 0 I L request dated December 29, 1997 to you and my December
8, 1997 letter to Mr. Neil Levin.
After receiving Mr. Glaser's letter I had the documents reviewed by the US Attorney's
office. They think you owe me a better response. Based on the rather large number of "Financial Pedophiles" who have been
involved, it was also recommended that I should turn over the information to the media. That was the same advice that an attorney
for the N.A.I.C. gave me awhile back.
News reports indicate that Governor George W. Bush's associates have been negotiating
the purchase of a substantial amount of MONY real estate in Houston, Texas for $155,000,000. As you are aware, Gov. Bush
and the Texas Department of Insurance have since early 1995 been involved in the cover-up of MONY's last audit which contained
some $600,000,000 in illegal transactions. During this same time period policyholders have suffered substantial shrinkage
in their insurance policies. My own children have lost more than $4,000,000.
Under F.0.I.L. I request that you
provide me with an "accurate, concise and complete" financial statement for the Mutual Life Insurance Company of New York.
I also request that you provide me with any documents in the care, custody or control of the New York Department of Insurance
that relate to the sale or proposed sale, of any MONY real estate to the Crescent REIT.
Under F.0.I.L., I request any
and all correspondence, documents, or materials in the care, custody or control of the New York Department of Insurance relating
in any way to MONY's failure to properly disclose on Schedule J, payments to The Honorable Senator Kay Bailey Hutchison's
husband's law firm ( Vinson and Elkins). I also request any and all documents that relate to Vinson and Elkins billings and
charges that have been paid by MONY with specific interest on charges relating to the naming of former MONY manager, Mr. John
McCole, as a witness in Wassell vs MONY along with any other charges similar to the "conference call" shown on the attached.
I
also request that you provide me with any documents, correspondence or other evidence that the New York Department of Insurance
investigated or did anything regarding the "Alexis Daniel Affidavit" which detailed criminal activities by company officers
relating to policyholders paying for "home theaters and stereo systems" for officers.
I re-assert my request for the
information in paragraphs 3,4,&5 of my letter to you of Dec.29, 1997 as it is specific and not unreasonable.
If there
are any questions relating to this request, please don't hesitate to contact me at the numbers listed below.
Respectfiilly,
R.
Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034 817 267-2020 Fax 817 267-5055
April 29,
1997
The Honorable Josephine Musser
Commissioner of Insurance
State of Wisconsin
President, N.A.I.C.
"NO RESPONSE"
Dear Ms. Musser,
During 1992, members of the N.A.I.C. audited the Mutual Life Insurance
Company of New York and discovered more than $600,000,000 in illegal transactions. With the full knowledge that the illegal
transactions had resulted in the "enrichment" of the company officers via the "SECRET PHANTOM STOCK PLAN", the N.A.I.C. members
abdicated their responsibilities and initiated a cover-up.
Subsequently, N.A.I.C. members from Alaska, Texas and Maine
along with Governor George W. Bush knowingly and willingly joined in the conspiracy originally initiated by New York, Nevada,
Oklahoma and Georgia, thereby abdicating their responsibilities to the citizens of their respective states.
The N.A.I.C.
knew that the false information on the financial statements would be used by the rating services such as S&P's, Moodys, Duff
& Phelps, AM Bests and other organizations and that subsequently the buying public would rely on the ratings in their decision
making process. The N.A.I.C. has therefore been a willing participant in the perpetration of a "fraud on the public".
The
N.A.I.C. members willingness to ignore and deny FOI requests and lie to the public to cover-up their prior illegal activities
along with the simple fact that not one (1) member of this organization can produce an "accurate, concise, and complete" financial
statement, as required by law, for 1989 through 1995 clearly demonstrates the need for Federal regulation of the insurance
industry.
If you have any evidence to refute the above statements or any statements contained in the" Condello Affidavit",
I request that you produce it by Friday of this week. If you do not respond, I will assume you are in full agreement with
the entire contents of this letter and the "Condello Affidavit".
As has always been the case, I am amenable to a solution
to this matter that is in the best interest of policyholders and the future of this company as well as the insurance industry
as a whole.
Sincerely,
R.Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034
817 267-2020
Fax
817 267-5055
DONNA GARCIA DAVIDSON
ASSISTANT GENERAL COUNSEL
May 7, 1998
STATE OF TEXAS
OFFICE OF ThtE GOVERNOR
Dear Ms. Davidson,
I am in receipt of your May 4,1998
letter responding to my Open Records request dated April 20,1998 to Governor George W. Bush. The vagueness of your response
and the appearance of your letter addressed to me and dated January 22, 1997 does cause me concern. I have no recollection
of having ever seen the January 22,1997 letter which in and of itself appears to be an admission of knowledge of "suspected
fraud" in the business of insurance by the Oflice of the Governor.
With regards to the vagueness of your response to
the April 20,1998 request, it appears that you are telling me that the Governor of Texas has approved millions of dollars
in contracts to a Big Six accounting firm that is on "probation" for criminal activites involving "Bid Rigging" of Government
contracts. The same accounting firm that issued "unqualified opinions" on the financial statements of an insurance company
that the New York Department of Insurance claimed to be false and contained $600,000,000 in illegal transactions. The
same accounting firm that was acting as the vendor on the sale a financial instrument to the company while claiming itself
to be the "independent" outside auditor for the company on the statements filed in Texas for the year 1994. The same financial
statements that fail to properly disclose the payment of more than $686,000 paid to the law firm of my US Senator's husband.
The same financial statements that the Texas Department of Insurance claim are correct and say that I should rely on because
of the "unqualified opinion" of the "independent" outside auditor. The same Department of Insurance that told me they weren't
interested in investigating insurance executives who only steal $500 per month nor were they interested in investigating
the $55,000,000 false entry on the company's financial statements. This is the same Department of Insurance that granted
approval for the sale of an insurance product to Texans that was dependent on investment returns based on non-existent assets
and $5,000,000 per acre vacant lots in Texas. The same product that thousands of Texans purchased to fund their children's
education, retirement and provide long term financial security for their family. The same Texans who have been lied to by
company management and the Texas Department of Insurance. The same Texans who are not going to receive 100's of millions of
dollars that they were led to believe they would.
It also appears that your response admits that the Governor has allowed
the CPA firm to have access to confidential medical records and sensitive investment data at state agencies while on "Probation"
for criminal activities without so much as a whisper of warning to state agencies and employees.
You made no mention
of the part of my request that asked about any financial transactions between the Governor and the insurance company mentioned
above. I am assuming that he has refused to answer the question about him now owning investments that used to belong to policyholders
of this company.
This also confirms that at no time during the Governor's term of office has he been able to produce
or cause to be produced an accurate, concise and complete financial statement (as required by law) for the Mutual Life Insurance
Company of New York.
So that there won't be any misunderstanding, I do want to give you an opportunity to clarify any
of the above as stated. If anything in this letter is incorrect, I request that you immediately notify me via fax @ 817 267-5055
or e-mail by the end of business on May 8, 1998 otherwise, I will assume that you and Governor Bush are in agreement with
each and every statement. If you find that something is not right, be exact in your response.
Respectfully,
R.
DaIe Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034
Signed fax copy sent: 512 463-1849
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