"Released under the John F. Kennedy Assassination Records Collection Act of 19927 (47 US DATE: “11-14-2017 ae = - 33 - to offset loan on 12/21/61. December 31, 1961(?) Bray borrowed $200,000 from Exchange and pledged commissions due Oxford from United Benefit. Also posted with Exchange a $100,000 bond of Central Casualty and a $100,000 bond of United Bonding. oo oxford paid $18,862.75 to Titan. Titan had loaned Central Casualty $50,000 for which Central Casualty had assigned to Titan cettain receivable among which was this sum from Oxford. January 1962 - Marion Burks, candidate for Republican con- gressional nomination and officer of Central Casualty, stated that he helped organize Central Casualty in 1955 and received 1/2% of stock as fee. Later he invested $5,000 in company. Bray invested $115,000 then later put up $00,000. Burks estimated Bray and his family own 9) 1/2% of Central Casualty. Burks helped to obtain licenses to do business in 33 states. Burks received $15,000 a year salary from Jamiary 1, 1956 to November 1961. Bray says Burks handled a deal involving reinsurance in which $378,000 is owed to Central Casualty by Nassau Surety Company. January 26, 1962: _ . Indiana liquidated United Mutual Life Insurance Company. (see December 22, 1960) January 31, 1962 Gerber starts investigation of Central Cas- . ualty and Homer Bray Service, Inc. which shows that while IBT and bail bonding business was profit- able, there were heavy losses on high risk auto, taxicab and truck casualty insurance it had written. Losses estimated at $2,000,000. Reportedly crime syndicate members had been dnsuringitheircéars with Central Casualty. February 1, 1962 Illinois Attorney General Clark says audit of Central Casualty shos shortage of $1,557,050. February 1962 Burks says that Bray and Bray's immediate _ family own 95% of stock of Central Casualty. Burks owns 1/2 of 1% for which he paid $5,000; the rest is owned by Bray's relatives and close friends. February 1, 1962 Oxford Agency is halted from doing business by Illinois. 33 bondsmen of the company were suspended in criminal court. Company's operations in Michigan also halted. ; yb Doclda: 32329636 Page 47
PReleased under the John F. Kennedy Assassination Records Collection Act of 1992 (44 USC 2107 Hotes. DATE :, 11-14-2017 , - 34 - February 1962 — Oxford issued 582 bond certificates with total premiums of $90,861.86, Bonds were written on United Benefit as of January 1, 1960. Oxford received 20% commission. Oxford accounts receivable include: Barbe Brothers *G. Bartling and Sons, Kansas City, Missouri Belmont Agency - Bernardo, James *Boardman Hamilton Company “Delaware Valley Underwriters, Inc., Philadelphia, Pennsylvania Industrial Clearing House Kitzer, Phil Levine, Sam *Nash Insurance Service, Inc., Chicago Sol Shakawitz= Erwin Shepherd *1960-1961 one commission check to each * above February 1962 The $1,000,000 in losses said Gerber, consisted of the $392,775 advanced to Homer Bray Service (see September.19, 1961), an earlier $300,000 non existent reinsurance credits, and certain business losses. \ ‘ February 1962 Gerber says that $100,000 in funds placed in escrow by bail bondsmen have been withdrawn with no accounting. Such funds are not supposed to be taken from escrow. $5,300 in bond forfeitures were due January 26, 1962 but were not paid. Gerber also said there are insurance company complaints that Homer Bray Service failed to remit premiums it collected for them. February 1962 Report that reinsurance collected by Homer Bray Service, Inc. but not forwarded to Central Casualty totaled more than $1,000,000. February 1962 The Illinois State Insurance Commission announced that the Intercontinental Insurance and Surety Co. mae, in Nassau, Bahamas, owed Central Casualty $378,616 4 Doclda: 32329636 Page 46
DATE: ,11-14-2017 . Oo  -— oO - 35 - -on a reinsurance deal. The Chicago Tribune of February 10 reported that the principals of the company included: Bernardo Carames, President (former Minister of Justice under. Batista), Luis J. Botifoll, a stockholder, (a lawyer and former editor of 1 the Havana newspaper, El Mundo, ousted in 1953, and now publicity man for the anti-Castro Cuban Revolutionary Council), Carlos Prio, a stockholder, (former President of Cuba until ousted in 1952 | by Batista) and Amadeo Barletta, (a wealthy Italian, owner of Hl Mundo whose extensive Cuban holdings were seized by. Castro). | | | } t | i February, 1962 According to Chicago newspapers, John M. Kearney, Vice President of Intercontinental Insurance and Surety Co., stated that his firm had severed relations with Central Casualty on July 1960 and that "full and complete sétlement between the com- panies had been effected in 1961". Kearney said that some of Intercontinental's records were in Havana, Mexico City and Panama. Kearney denied that Botifol, Prio and Barletta had any connection with his firm. February 13, 1962. Liquidation of Central Casualty sought. Gerber says Bray transferred to Homer Bray Service, Inc. $700,000 of insurance funds that cannot be accounted for. Bray also posted unauthorized insurance company stock for loans from bonds and ther have been some defaults... we ee ee February 1962 Bray told Chicago News that Central Casualty wrote individual A & H policies worth $60,62) in premiums from members of the Teamsters and other unions. — Also wrote group policies worth $129,703 mostly with the Teamsters. Also handled bonds for officials of the Teamsters and five other international unions that would have amounted to $600,000 in business over 3 years; but this business was cancelled after 18 months and the big insurance companies took it over. Bray said that Central Casualty in 1962 had anticipated $3,300,000 total sales as opposed to $2,500,000 in 1901. February 1962... Bray said Oxford has not paid commissions to its agents including Weiner and Schwartz for IBT health and welfare insurance. Further, he said the proceeds from the Exchange Bank loan did not go to Oxford nor to the Dorfmans nor to any official. No ope am lomger on speaking terms with the Dorfmans. 9 in tt en | cree ee ee 4 i Doclda: 32329636 Page 49
[Pexeased under the John F. Kennedy Assassination Records Collection Act of 1992 (44 USC 3107 Hates. DATE:, 11-14-2017 _ ‘ - 36 - y . February 1962. FDIG. examiner's notes reflect a write-off of Homer Bray Service, Inc.loan by Guaranty as follows: Homer Bray Services, Inc. 102,500 due 2/1/62 Loss 102,500 (LOSS) 2,295 overdraft Note signed by Charles W. Bray as a director of the corporation arid also individually. Collateralled by 206,000 shares of Central Casualty Go. of Chicago. Stock believed worth- ' less and company reportedly in liquidation. Bray, president of the company, reportedly misappropriated funds. Attorney advises no equity left for stockholders of Central Casualty. Overdraft charged off during exam- ination. Loan to be charged off within 90 days. February 19, 1962 Guaranty National records (FDIC exam) show Don Ross owed $20,135.50 (Ross had guaran- teed a $9,000 plus loan to Bartone, and had reportedly guaranteed a $15,000 "indirect" loan to Naiman Corporation. On 8/29/60, Ross guaranteed a $l:,000 loan to Max Rothfield.) February 19, 1962 FDIC examination shows following in Guaranty National Bank's filess Letter 2/19/62 from HE. ‘A. Wallon, member of Avey legal firm states "There is absolutely no equity left for the stockholders of Central Casualty - it appears we should proceed to obtain. a confession judgement on the note." "Central Casualty in liquidation." "Feel Bray may have some money some place. We will prosecute against Bray for fraud. Note in process of reducing to judgement." | February 21, 1962 - Scribner of Resolute said that because of the happenings at Central Casualty and Oxford and because of the uncollected premiums on IBT bonds (about 50,000); certain changes were made. Resolute anticipated that Oxford would not get a new license and transferred . to Titan in September 1961. In regard to the unpaid premiums, Resolute credited Oxford's earned commission to them. (what pappened to the premiums? } Doclda: 32329636 Page 50