January 2020

cannon

Raleigh lawyer pleads guilty to lobbying-related charges after WBTV investigation [Cannon Surety]

RALEIGH, N.C. (WBTV) – Raleigh lawyer and lobbyist Mark Bibbs pleaded guilty to six misdemeanor charges in a Wake County courtroom Monday. Bibbs was indicted on ten felony and misdemeanor charges in February 2018 following an investigation by the North Carolina Secretary of State’s Office that was prompted by a WBTV investigation. The charges included felony obstruction of justice, felony perjury and misdemeanor counts of lobbying without registration, among others. Monday’s guilty plea included a count of criminal contempt, misdemeanor obstruction of justice and four counts of lobbying without registration. Bibbs was sentenced to two years probation and is permanently banned from lobbying or practicing law, according to Wake County District Attorney Lorrin Freeman. Bibbs also must undergo a 90-day outpatient substance abuse treatment and will be subject to continuous alcohol monitoring, Freeman said. In court, Bibbs’ attorney told a judge that Bibbs had a substance abuse problem during the period in which the underlying offense conduct occurred. “We’re satisfied with this outcome inasmuch as we know that he is prohibited going forward from practicing law or being a lobbyist and we think that’s appropriate given the allegations in this meant,” Freeman told WBTV Monday afternoon. The criminal investigation began after WBTV uncovered evidence that Bibbs was lobbying at the North Carolina General Assembly on behalf of a bail bond surety company without being registered as required by law. Records previously obtained by WBTV have shown Bibbs was in frequent communication with House Speaker Tim Moore (R-Cleveland) and also in touch with then-Commissioner of Insurance Wayne Goodwin, whose agency regulated bail bond surety companies, at the time of his unregistered lobbying. That company, Cannon Surety, has since been taken over by the North Carolina Department of Insurance. Two former company employees were indicted along with Bibbs and their charges are still pending. “This guilty plea upholds the public’s right to know who is being paid to influence governmental action as well as the legislator’s right to know who is being paid to influence them,” Marshall’s statement said. Bibbs pushed back on Marshall’s comments in a statement of her own, in which he called her a “Donald Trump Democrat.” “I have just read Elaine Marshall’s windbag press release. Elaine now has the termerity and unmitigated gall to gloat over this case. As I said in open court today, thousands of lobbyists commit this registration violation each year and not one has EVER been charged, EVER,” Bibbs said. “Elaine has wasted millions of taxpayer dollars and 2 years of state employees time going after me and trying to ruin my reputation, me, a successful black lawyer who she has singled out for no good or fair reason.” Bibbs said he agreed to plead guilty as a way to help his family and because he had already decided to retire from practicing law. https://www.wbtv.com/2020/01/27/raleigh-lawyer-pleads-guilty-lobbying-related-charges-after-wbtv-investigation/

Raleigh lawyer pleads guilty to lobbying-related charges after WBTV investigation [Cannon Surety] Read More »

sba logo

SBA Recognizes FY19 Most Active Surety Companies and Agencies

WASHINGTON, DC – The U.S. Small Business Administration announced on Wednesday its most active surety companies and agencies for fiscal year 2019, which contributed to increases in the Surety Bond Guarantee (SBG) Program’s activity. “The SBA is very fortunate to partner with sureties and agents with a shared vision of assisting small and emerging businesses,” said Peter C. Gibbs, Director, SBA’s Office of Surety Guarantees. “Every year I am amazed by the level of commitment from our partners to increase opportunities for the small business community.” The SBA’s Surety Bond Guarantee Program, in direct partnership with surety companies and their agents, provides surety bond guarantees for small businesses on federal, state, local and private projects. Commercial construction, service and supply contracts and subcontracts are eligible if the contract requires a surety bond. In FY 2019, the SBA’s guaranteed bid and final bonds were more than $6.4 billion in total contract value. With the work of the SBA’s top-performing surety partners and bond agencies, over 1,900 small businesses were assisted and over 30,000 jobs were supported. The standing of each surety partner and agent was determined by the number of bond guarantees they wrote through the SBG Program. The top-performing surety partners for FY 2019 are: American Contractors Indemnity Company, Calif.United States Fire Insurance Company, PaU. S. Specialty Insurance Company, Calif.Travelers Casualty & Surety Company, Conn.United States Surety Company, Md.Markel Insurance Company, TexasDevelopers Surety & Indemnity Company, Calif.Contractors Bonding and Insurance Company, Wash.Navigators Insurance Company, N.J.The Guarantee Company of North America, Mich. The top-performing bond agencies for FY 2019 are: CCI Surety, Inc., Minn.KOG International, Inc., N.J.Nielson, Hoover and Company, Fla.The Fedeli Group, OhioValley Surety Insurance Agency, Calif.Preferred Bonding & Insurance Services, Calif.Pinnacle Surety & Insurance Services, Inc., Calif.The Surety Place, Ariz.Brunswick Companies, OhioCapstone Brokerage, Inc., Nev. https://www.prnewswire.com/news-releases/sba-recognizes-fy19-most-active-surety-companies-and-agencies-300991626.html

SBA Recognizes FY19 Most Active Surety Companies and Agencies Read More »

SIA, Italy’s central bank involved in blockchain surety project

Italy’s SIA, CeTIF (Research Centre on Technology), and technology company Reply announced plans for a national blockchain network for sureties or guarantees. SIA is best known as one of the major backbone providers for Europe’s SEPA payments network. In 2018 it processed more than three billion payment transactions and 7.2 billion card transactions. Together the organizations hope to address rampant fraud in the Italian sureties sector. Typically when committing to public sector contracts or construction, the supplier has to guarantee they will fulfil the contract. Hence, they turn to insurers and banks to provide the guarantee. But according to an Italian news report, in the past four years, there have been at least €1.6 billion in fraudulent sureties. One can imagine someone creating a deceptive piece of paper. But the biggest issue is unscrupulous guarantee providers. So suppliers unwittingly pay premiums for worthless sureties. So how can blockchain help? The blockchain initiative will include legitimate players in the sector – the Bank of Italy, the central bank, has an approved list of guarantors. Both the central bank and the Italian insurance regulator IVASS are involved in the project. So sureties will be digitalized and notarized to verify that the guarantor is legitimate. The project announcement follows a four-month feasibility study that involved thirty organizations including insurers, banks, the public sector and corporates. The initiative will start this month and “Fideiussioni Digitali” (Digital Sureties) will be part of a Sandbox environment. This isn’t the first blockchain solution for sureties. Accenture and Zurich worked together to develop a blockchain system which incorporates Zurich’s existing back-end surety bond system. And in Australia, IBM, ANZ, Commonwealth Bank and Westpac worked with property company Scentre Group to digitize bank guarantees. https://www.ledgerinsights.com/sia-central-bank-italy-blockchain-surety-guarantee/

SIA, Italy’s central bank involved in blockchain surety project Read More »

Scroll to Top
Document