GUARDIAN INS v. CHEMICAL BANK


94 N.Y.2d 418 (2000)

727 N.E.2d 111

705 N.Y.S.2d 553

GUARDIAN LIFE INSURANCE COMPANY OF AMERICA, Appellant, v. CHEMICAL BANK, Respondent.

Court of Appeals of the State of New York.

Decided February 22, 2000.


Attorney(s) appearing for the Case

Bleakley Platt & Schmidt, L. L. P., White Plains (Robert D. Meade and Susan E. Galvaão of counsel), for appellant.

Rosner & Nocera, L. L. P., New York City (John A. Nocera and John P. Foudy of counsel), for respondent.

Chief Judge KAYE and Judges BELLACOSA, SMITH, CIPARICK, WESLEY and ROSENBLATT concur.


OPINION OF THE COURT

LEVINE, J.

Over a period of 10 years, ending in 1989, Jerome Rutberg, an insurance broker working for the Baer Insurance Agency in Philadelphia, perpetrated a fraudulent scheme by which he procured checks from plaintiff Guardian Life Insurance Company of America, representing policy loans or dividend withdrawals made payable to Guardian policyholders who had purchased life insurance though...

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