Audit Alleges Potential Conflicts of Interest and False Reporting at CRM

By Michael Whiteley, Eastern Bureau Chiefmike@workcompcentral.comA forensic audit of a major New York health care trust formerly run by Compensation Risk Managers (CRM) alleges potential conflicts of interest involving CRM's founders, a former trust chairman, a Bermuda-based reinsurer and nursing homes as part of irregularities that auditors say helped skew CRM's financial profile when the company went public in December 2005.The audit was issued to the New York State Workers' Compensation Board on Dec. 18 by New York-based financial firm Bollam, Sheedy, Torani & Co. (BST). WorkCompCentral obt...