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Ruling near on closure of Springfield, TN, companies accused of insurance fraud

The Tennessean, April 27, 2010

Chancellor Ellen Hobbs Lyle intends to make a final ruling by April 28 on whether Tennessee can permanently close a pair of businesses accused of selling bogus health-insurance policies to thousands of consumers nationwide. Hobbs took testimony on the financial condition of the unlicensed insurance operation on Monday, hearing from state regulators who raided the American Trade Association and Smart Data Solutions LLC in late March. The state has since taken control of the companies' operations and bank accounts, The Tennessean reports.