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Tuesday, January 5, 2010 - 1:55pm

State Launches Criminal Probe of Insurance Company

The State Insurance Commissioner's office has opened a criminal investigation into an insurance company that provided workers compensation insurance to dozens of Georgia communities.

In October, a Fulton County judge shut down Southeastern U.S. Insurance after some suspicious business practices.

After a subsequent investigation into the company's financial transactions, on Tuesday State Insurance Commissioner John Oxendine compared SEUS's business practices and those of its chief executive, M. Clark Fain III, to the fraudulent books of Enron.

At the time of its liquidation, SEUS held more than 200 workers comp policies.