Another Ex Louisiana Regulator Out Of Prison
NU Online News Service, Sept. 19, 9:56 a.m. EDT
Mr. Green, 54, was convicted of money laundering and taking more than $2 million in illegal campaign contributions from owners of now-defunct Champion Insurance Co. in 1991.
Mr. Green was elected to the commissioner's post on Oct. 24, 1987, beating then-incumbent Sherman Bernard, who at the time was facing his own legal difficulties. Mr. Bernard was eventually convicted in 1993 and served 30 months in prison after conviction in a corruption case.
This April, Mr. Green's successor, Jim Brown, completed a six-month sentence in Oakdale, La., prison, which he served after a conviction for lying to an FBI agent. Mr. Brown was the third-consecutive Louisiana insurance commissioner to serve jail time in federal prison.
According to Mr. Brown's Web site, he is currently employed by Risk Consultants LLC and lecturing on the problems and "dangers in dealing with financial regulators nationwide."
Currently, the Louisiana insurance department is led by Robert Wooley, who officially became the state's top regulator last April when Mr. Brown resigned after losing a final appeal of his conviction.
Next month, Mr. Wooley will be a candidate for a full four-year term, Louisiana Department of Insurance confirmed. There are currently five other candidates vying for Louisiana's top insurance post.
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