Thursday, February 07, 2002

State yanks Fiorini's insurance license

Agent accused of defrauding clients

By James McNair
The Cincinnati Enquirer

        George Fiorini, whose 28-year career as an insurance agent flamed out after steering Tristate residents to what officials say are potentially worthless securities, has sold his last policy.

        The Ohio Department of Insurance said Wednesday it had revoked Mr. Fiorini's license to sell insurance. Mr. Fiorini had been given 30 days to respond to state allegations that he defrauded six clients of $191,083 from 1997 to 2001, but he never asked for a hearing.

        The Cleves resident did not return a call for comment.

        In December, the Insurance Department accused Mr. Fiorini of selling promissory notes in a company called IGW Trust to six of his clients. The Ohio Division of Securities had already stopped him from selling the IGW notes — after he had sold $1.2 million worth.

        IGW, the state said, doesn't exist.

        As reported in Sunday's Enquirer, IGW note holders have not been able to get their money back and have sued Mr. Fiorini, who is caught up in a much larger imbroglio involving a company called Guardian Investments and an ex-con named Terry Quatkemeyer, a former Cincinnatian now living in Bel Air, Calif.

        Insurance Department spokesman Todd Boyer said the IGW case has been referred to law enforcement officials.


Cosby cancels, cites racial climate
Wharf development upsets Camp Dennison
Daughter charged in murder of father
- State yanks Fiorini's insurance license
Taft touts firm as high-tech model
CAN ads called good beginning
Dater's widow blasts charity board
Defendant says he killed 3
Ex-funeral director charged
FEMA scolds river town for delay in filing report
Kiwanis pay for play area upgrade
Performers want Covedale Theater
ReStoc, city work on revised agreement
Robot builders working fast
Saks gets its $6.6M subsidy
Tristate A.M. Report
HOWARD: Some Good News
PULFER: In courtroom
Athletic fields to cost $1.2M
Group reports business booming
Main St. widening upsets some in Mason
Mason woman working in Antarctica: 'It's cold!'
New legal wrinkle: OxyContin defense
Kidnapping added to murder charge
Aquarium adds a rehab facility
Gunman robs pawn shop in Taylor Mill, escapes
N.Ky. PAC has a plan
Sex offender unregistered in Ky.