Lawsuit Ending after a Decade

By: The Associated Press
By: The Associated Press

A lawsuit related to the scams of a financier who claimed to have ties to the Vatican while looting insurance companies is winding down after more than a decade of legal wrangling.

Attorneys for Mississippi Insurance Commissioner Mike Chaney filed a motion Wednesday in U.S. District Court in Jackson, Miss., that seeks to voluntarily dismiss the last three defendants, including an elderly priest and a charitable foundation.

The lawsuit originally was filed in 2001 by Cheney's predecessor, George Dale, after notorious financier Martin Frankel bilked insurers in five states during the 1990s.

Insurance regulators in Tennessee, Oklahoma, Arkansas and Kansas joined the lawsuit. The Vatican was added as a defendant in 2002, but claims against the church were dropped earlier this year. A judge has not ruled on the motion.

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