Preview:

Editor's note: opinion released October 6, 2000

SUPREME COURT OF LOUISIANA NO. 00-B-2032

IN RE: MARK B. HERMAN

ATTORNEY DISCIPLINARY PROCEEDINGS

PER CURIAM
This disciplinary proceeding arises from a petition for consent discipline filed by respondent, Mark B. Herman, an attorney licensed to practice law in the State of Louisiana but who is currently on interim suspension.1

UNDERLYING FACTS Respondent owned a majority interest in Bomar Investment Corporation ("Bomar") and was chairman of its board. Bomar, in turn, owned several insurance companies, many of which were in poor financial health. Although he was aware of the companies' poor financial condition, respondent allowed the companies to continue to sell insurance policies. One company continued to sell investments, including annuities and IRAs, and actively solicited business by misrepresenting its financial condition. Subsequently, respondent sold the assets of Bomar knowing the insurance companies were insolvent. As part of the sale, he accepted $905,000 in a series of personal payments described as salary and bonuses. Respondent's co-conspirators furthered the scheme by distributing, through the mail, Standard Independent Comparative Reports and Growth Record Reports that falsely stated one of the insurance companies was financially sound.

1

In re: Herman, 99-3258 (La. 12/8/99), 756 So. 2d 281.

Subsequently, respondent was charged in the United States District Court for the Eastern District of Louisiana with mail fraud and conspiracy to commit mail and wire fraud in violation of 18 U.S.C.

Download 2000-B-2032 IN RE: MARK B. HERMAN.pdf

Louisiana Law