What Happened to Huff Thomas?
Huff Thomas & Company was a contract regulatory insurance examination company owned by Robert E. Huff of 9505 State Line Rd Apt 2 Kansas City MO, and Cecil Thomas of 1300 Steeple Ridge Rd, Irmo SC until it shut down in 2013. The president of Huff Thomas was Neeraj Gupta of 7980 Gearhart Dr., Beaverton OR.
Huff Thomas paid bribes and kickbacks to state insurance regulators to obtain insurance company examination projects with inflated budgets, and solicited payoffs from insurance companies to cover up violations and issue a clean official government regulatory examination report. The corruption was blatant based on the mistaken belief that their business records were exempt from subpoena and they could not be sued or prosecuted. Uncooperative employees were fired and slandered to ruin their career and intimidate the others to go along and keep their mouth shut. When a fired employee hired a lawyer to bring a wrongful termination suit Bob Huff learned the hard way that his business records could be subpoenaed and he could be sued and potentially prosecuted. Huff fired Cecil Thomas and his son Brandon "Brandi-Bo" Thomas , shut down the company and destroyed the business records to stop the suit and avoid prosecution. Huff-Thomas filed chapter 7 bankruptcy (filing page) to cancel unpaid bills, discharge liens and erase the entity.
These days Bob Huff (who was a successful interior decorator before he teamed up with Cecil Thomas) spends as much time as possible with his two boyfriends working their way through boxes of Viagra. No doubt Huff tries not to think about all the easy money he pulled out of Huff Thomas before he destroyed the company.
The Thomas Consulting Group
Cecil Thomas and his son Brandon Thomas started another fly-by-night company called The Thomas Consulting Group operating out of his home in Irmo South Carolina selling fake government financial examination reports.
INS Regulatory Insurance Services
Huff Thomas company president Neeraj Gupta was hired by consulting firm INS Regulatory Consulting Services Inc. (Insris) of 419 S 2nd Street, Philadelphia PA, run by Alan Shaw, George Piccoli, John Tinsley, and Tony Misenheimer. With no education in accounting, finance, or auditing, and the reading ability of a struggling third grader, Gupta's only professional value is his ability to negotiate payoffs from insurance companies ("We can provide special examination supervision to ensure that no problems arise during the examination, for only 20% more...").
Huff Thomas paid bribes and kickbacks to state insurance regulators to obtain insurance company examination projects with inflated budgets, and solicited payoffs from insurance companies to cover up violations and issue a clean official government regulatory examination report. The corruption was blatant based on the mistaken belief that their business records were exempt from subpoena and they could not be sued or prosecuted. Uncooperative employees were fired and slandered to ruin their career and intimidate the others to go along and keep their mouth shut. When a fired employee hired a lawyer to bring a wrongful termination suit Bob Huff learned the hard way that his business records could be subpoenaed and he could be sued and potentially prosecuted. Huff fired Cecil Thomas and his son Brandon "Brandi-Bo" Thomas , shut down the company and destroyed the business records to stop the suit and avoid prosecution. Huff-Thomas filed chapter 7 bankruptcy (filing page) to cancel unpaid bills, discharge liens and erase the entity.
These days Bob Huff (who was a successful interior decorator before he teamed up with Cecil Thomas) spends as much time as possible with his two boyfriends working their way through boxes of Viagra. No doubt Huff tries not to think about all the easy money he pulled out of Huff Thomas before he destroyed the company.
The Thomas Consulting Group
Cecil Thomas and his son Brandon Thomas started another fly-by-night company called The Thomas Consulting Group operating out of his home in Irmo South Carolina selling fake government financial examination reports.
INS Regulatory Insurance Services
Huff Thomas company president Neeraj Gupta was hired by consulting firm INS Regulatory Consulting Services Inc. (Insris) of 419 S 2nd Street, Philadelphia PA, run by Alan Shaw, George Piccoli, John Tinsley, and Tony Misenheimer. With no education in accounting, finance, or auditing, and the reading ability of a struggling third grader, Gupta's only professional value is his ability to negotiate payoffs from insurance companies ("We can provide special examination supervision to ensure that no problems arise during the examination, for only 20% more...").
After a great deal of patient tutoring, Huff Thomas president Neeraj Gupta eventually learned how to write his name, sort of.
How Could This Happen?
How could a government agency in the United States of America hire a crook and an illiterate to conduct regulatory financial examinations of insurance companies and force the companies to pay millions of dollars for it? The answer lies in a fake professional standards organization called SOFE that the fifty state insurance commissioners have adopted as a statutory requirement for their government financial examiners.
SOFE is The Society of Financial Examiners. Like a club, SOFE issues its "CFE" certification to insiders – good old boys like Cecil Thomas and the reliably dishonest Neeraj Gupta who could not pass an accounting test to save his life. SOFE will not issue its certification to outsiders. SOFE administers its professional certification tests using a buddy system where the test-taker selects a buddy to administer the test at a time and place of their choosing without any other supervision; SOFE has refused all requests to administer its qualification tests in professional testing centers. For many insiders SOFE just ignored the education and testing requirements and gave them the SOFE "CFE" certification. Less than 10% of SOFE certified insurance regulators meet the SOFE published requirements to be certified. As a result, many SOFE certified insurance regulators who have no genuine professional certification such as a CPA license are utterly incompetent.
This is how some of the state insurance regulators have forced insurance companies to pay $350.00 per hour to an illiterate government financial examiner, and turned their financial examination function into a racket to extract examination fees from insurance companies and funnel the money into the pockets of insiders. This scheme allows some insurance companies to get away with practices that are harmful to the industry and the public, and it generates contempt for government regulation and the individuals who work as regulators.
The state insurance commissioners could restore integrity and professional competence to their financial oversight function by ending reliance on the useless certifications issued by SOFE, and adopting the professional education and certification program operated by The National Association of Insurance Commissioners (NAIC).
How could a government agency in the United States of America hire a crook and an illiterate to conduct regulatory financial examinations of insurance companies and force the companies to pay millions of dollars for it? The answer lies in a fake professional standards organization called SOFE that the fifty state insurance commissioners have adopted as a statutory requirement for their government financial examiners.
SOFE is The Society of Financial Examiners. Like a club, SOFE issues its "CFE" certification to insiders – good old boys like Cecil Thomas and the reliably dishonest Neeraj Gupta who could not pass an accounting test to save his life. SOFE will not issue its certification to outsiders. SOFE administers its professional certification tests using a buddy system where the test-taker selects a buddy to administer the test at a time and place of their choosing without any other supervision; SOFE has refused all requests to administer its qualification tests in professional testing centers. For many insiders SOFE just ignored the education and testing requirements and gave them the SOFE "CFE" certification. Less than 10% of SOFE certified insurance regulators meet the SOFE published requirements to be certified. As a result, many SOFE certified insurance regulators who have no genuine professional certification such as a CPA license are utterly incompetent.
This is how some of the state insurance regulators have forced insurance companies to pay $350.00 per hour to an illiterate government financial examiner, and turned their financial examination function into a racket to extract examination fees from insurance companies and funnel the money into the pockets of insiders. This scheme allows some insurance companies to get away with practices that are harmful to the industry and the public, and it generates contempt for government regulation and the individuals who work as regulators.
The state insurance commissioners could restore integrity and professional competence to their financial oversight function by ending reliance on the useless certifications issued by SOFE, and adopting the professional education and certification program operated by The National Association of Insurance Commissioners (NAIC).
