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Tuesday, December 29, 2009

Former N.M. Insurance Regulator's Convictions Upheld


Associated Press
      SANTA FE — A federal appeals court has upheld the convictions of former state insurance regulator Joe Ruiz on corruption charges.
    The 10th U.S. Circuit Court of Appeals on Tuesday affirmed Ruiz's convictions of extortion, mail fraud, wire fraud and corruption solicitation.
    Ruiz was convicted last year of soliciting charitable donations from insurance companies in exchange for reducing regulatory fines. Ruiz directed companies to make payments to a nonprofit health foundation or an arts group that bought a bilingual children's book he had written. Ruiz earned royalties from the books.
    The health foundation was formed by former State Insurance Superintendent Eric Serna, who had recruited Ruiz for his regulatory job.
    Ruiz was sentenced to four years in prison.
   

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