Ex-insurance executive may have plea deal - KPLC 7 News, Lake Charles, Louisiana

Ex-insurance executive may have plea deal

Associated Press - February 18, 2010 5:34 AM ET

BATON ROUGE, La. (AP) - Terry Lisotta, who was indicted in late 2008 on 14 counts of theft by fraud from the Louisiana Citizens Property Insurance Corp., has a court date Thursday in Baton Rouge.

Defense attorneys and state prosecutors have said that Lisotta was trying to work out a plea bargain.

Lisotta, the former chief executive of Louisiana Citizens, has pleaded not guilty to 14 counts of theft. He's accused of improperly spending about $30,000 of the state-backed firm's money.

If convicted on all 14 counts, Lisotta would face up to 140 years in jail, $42,000 in fines and restitution.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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