The parent of a New York group self-insured trust manager targeted for license revocation by the State Workers' Compensation Board (SWCB) reported Thursday that the 2007 failure of one of its trusts is the subject of a subpoena issued by New York Attorney General Andrew Cuomo.The disclosure that the attorney general has joined the SWCB in an ongoing investigation of failed trusts managed by Compensation Risk Managers (CRM) sent stock prices plummeting for Bermuda-based CRM Holdings, which owns the Poughkeepsie, N.Y., trust manager, California-based Majestic Insurance Co. and reinsurer Twin...
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