Ex-La. insurance CEO pleads not guilty to theft
Criminal Law
The former chief of Louisiana's state-backed insurance company pleaded not guilty Monday in a criminal case that accuses him of fraudulently spending the firm's money for personal travel and entertainment.
Terry Lisotta was arraigned in Baton Rouge on 14 counts of theft. Lisotta, CEO of Louisiana Citizens Property Insurance Corp. until April 2007, is accused of improperly spending about $30,000 of the firm's money.
The criminal charges stem from an investigation by the Legislative Auditor's Office that questioned $106,000 of Lisotta's expense reports from 2003-2006. State Attorney General Buddy Caldwell's office is prosecuting.
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