TN GOP Candidates Linked to Plan Banking on Retirees' Deaths
NewsChannel 5 Investigates has uncovered details of an unusual financial scheme involving two of the men whom Republican lawmakers may soon put in charge of Tennessee's money.
The $7 billion dollar plan involved -- get this -- taking life insurance out on some state retirees without their knowledge and cashing in when they died.
Our chief investigative reporter Phil Williams uncovered the documents that reveal the plan.
It was hatched five years before the big financial downturn.
But the documents reveal an investment deal that, state officials believed, could have led to the collapse of a major insurance company.
When Republicans take control of Tennessee's legislature next week, they'll also name the people who'll control your money -- $33 billion in state bank accounts and pension funds.
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As a TN resident..
and State employee, I'm angry! They should not be allowed to do this, it's illegal and wrong.
Thanks for posting this, I will be contacting and informing my local State Representative about it.