TEXAS ThugsGovernor Mario CuomoSEC CCOPWC CrookPaulson / GeorgeTEXAS CrooksSENATOR NELSONR. Larry Johnson CPAGov. SebeliusSEC'S LawyersGov. PatakiBush / Pitt

Governor Greg Abbott

Bob Moritz Chairman PWC
TDI Comm. Kent Sullivan

This site is owned by R. Dale Abshire Texas Insurance license # 1008184. The information contained on the site has been verified without objection by Texas Insurance Commissioner Kent Sullivan and the Securities and Exchange Commission.  

Wed, Apr 11, 2018 10:34 am

Reply  Andrew Oldham

General Counsel

Office of the Governor

State of Texas


Rabshire (rabshire@aol.com)To:Andrew.Oldham Details Slideshow


Commissioner Sullivan and the Senior Staff at the TDI have confirmed Gov. Abbott's part in covering up the MONY / AXA / PricewaterhouseCoopers Ponzi and swindle of the Texas Teachers Retirement fund. You can find the info at www.PWCSUCKS.com and in Blacklock's email account.



R. Dale Abshire

William Treacy, Executive Director
Texas State Board of Public Accountancy
August 25, 2017
Dear Mr. Treacy,
During 1998 I provided you, Paul Gavia and AICPA President and CEO Barry Melancon information concerning the lack of independence by Coopers & Lybrand / PricewaterhouseCoopers LLP on the financial statements of the Mutual Life Insurance Company of New York, commonly and hereafter referred to as MONY. I also provided the sworn affidavit of CPA R. Larry Johnson detailing the results of NAIC examinations of MONY's financial statements. You also later received the December 2, 1998 letter from the Arizona Department of Insurance detailing the non-audit related financial transactions between Coopers & Lybrand and MONY that ....... according to your own Enforcement Office.... resulted in the loss of "Independence". 
You also have the April 21, 1994 letter from the Florida Office of the Treasurer Bill Nelson to MONY Chairman Michael I. Roth detailing illegal investments and violations of over 1.3 billion dollars. You may find a copy of this letter on my www.MONYBUSH.com web site along with other information on the www.pwcsucks.com site..
I also confirmed with TSBPA Enforcement that MONY's financial statements lack of the certification of an "Independent Auditor" will continue until they are  audited by someone other than PricewaterhouseCoopers LLP.
MONY was taken public in 1998 by PricewaterhouseCoopers LLP with the fraudulent financials and actuarial reports.  Five years later PricewaterhouseCoopers LLP stood on both side of the MONY/AXA sale that resulted in the comingling of assets that in turn caused AXA's financial statements to be conflicted and lack the proper certification which would later cause the same problem with Protective Life's financials and possibly the Japanese company that now owns Protective Life. 
I have noted that Paris-based AXA aims to raise billions of dollars in the first half of next year by selling a minority stake in the combined life-insurance and asset-management company in the U.S.  
Your failure to adhere to the most basic standards of conduct as set forth by the AICPA and the TSBPA are astounding!  You have knowingly sheltered what is possibly the longest (35yrs) and largest accounting fraud in American history. Enron and Madoff ............ 
Please tell me what you plan to do about this matter.  I would like to tell my children what happened to their money.
R. Dale Abshire
2606 Twelve Oaks
Colleyville, TX 76034

Texas Attorney General Greg Abbott 
PO Box 12548
Austin, TX 78711-2548

Feb. 14, 2011

 Dear Mr. Abbott,

 I have noted your office reviewing the information concerning the AXA/MONY/PwC Ponzi that is contained on the www.TAMUEX.com web site. I have held a Texas insurance license since 1971 and have (as required by Texas law) reported this to enforcement agencies and elected officials. I was present when State Rep. Lon Burnam's attorney informed him that serious criminal offenses had occurred and that V&E attorneys Hamel and Sloan should be prosecuted for their part in the looting of MONY. Mr. Burnam as well as State Senator's Chris Harris and Florence Shapiro could not help policyholders obtain an accurate financial statement for the company. Mr. Bernum said he couldn't say anything about V&E because they had given him $5,000 because he was on the insurance committee. They like my State Rep. Vicki Truitt ( featured at www.TEXASTHUGS.com ) had no problem in graciously accepting political contributions form Vinson and Elkins and looking the other way while 10's of thousands of Texans were duped into buying products that illustrated double digit returns on nonexistent assets. Just like R. Allan Stanford and Bernie Madoff did because regulators kept kicking it down the road.

 You may already be aware of this matter as I might have copied you when I wrote about Pete Wassdorf's part in this mess. I will enclose part of letter referencing him and other information. I would appreciate your taking a look at the above referenced web sites and letting me know if you can help. Thank you in advance for your help. Please feel free to contact me at 817 946-8097 or email rabshire@aol.com.


 R. Dale Abshire 

2606 Twelve Oaks Lane

Colleyville, TX 76034

 Beginning in 1995 I reported, as mandated by Article 1.10d of the Texas Insurance Code, suspected fraud in the business of insurance and asked for help for policyholders to the Texas Department of Insurance and to Governor George W. Bush concerning the fraudulent financial statements of MONY, the looting of the company and the PONZI insurance contracts that were used to defraud the public. Mr. Pete Wassdorf, who became General Counsel to Texas AG Greg Abbott, responded on behalf of Governor Bush that they could not help because it would be inappropriate for the governor of Texas to contact the governor of New York and interfere with the operation of a New York domiciled company.  Apparently Gov. Bush pulled Coopers & Lybrand's short hairs!


 To: chairman <chairman@sec.gov>   
  Sent: Thu, Jun 4, 2015 1:30 pm
Subject: MONY / AXA Ponzi

Chair Mary Jo White
Securities and Exchange 
Dear Ms. White,         
Enclosed is additional information for your investigation. Most likely you will find former Governor George W. Bush's not so blind trust investments a the heart of Texas' reluctance to take any action over MONY's Ponzi.  Mr. Bush was aware of Coopers and Lybrand's involvement in MONY's fraudulent financial statements and the looting of the company when he authorized the payment of $17,045 for Coopers & Lybrand to evaluate the Texas Teachers Retirement Fund's real estate portfolio and make recommendations. They recommended the sale of a building in Austin, TX that had a current value of $143,000,000 to Crescent REIT for $97,000,000. About the same time Crescent REIT paid $155,000,000 for MONY properties valued on MONY financial statements at double that amount.  Crescent's stock jumped and Mr. Bush's not so blind trust that was managed by Crescent President John Goff suddenly became profitable. Mr. Bush then announced his run for the presidency and had his investments placed in T-bills.
 Both Governors Perry and Abbott have for many years known of the massive fraud by PricewaterhouseCoopers, Goldman Sachs, Vinson& Elkins, and AXA and have refused to take any action. By separate cover I will send you the information on the New York Department of Insurance and former Governor Pataki.
Please don't hesitate to contact me for additional information or documentation.
R. Dale Abshire
2606 Twelve Oaks Lane
Colleyville, TX 76034                         




             TOO BIG TO FAIL!

The Mutual Life Insurance Company of New York, commonly and hereafter referred to as MONY, was founded in 1843 and recognized as the oldest mutual life insurance company in America. From its inception, MONY was a mutual company, owned by its policyholders and run for their benefit with dividends paid to policyholders. MONY's principal regulator was the New York Department of Insurance.  In 1970 MONY established an investment fund, MONY Fund, which required additional reporting to the Securities and Exchange Commission.
I was employed by MONY from September 01, 1971 thru February 01, 1991 as a Field Underwriter in the Dallas and Richardson Texas Agencies, as a sales manager in the Fort Worth agency in 1982 and as Agency Manager from January of 1986 until February 01, 1991.  From 1982 thru 1990 my duties included the recruiting and training of new Field Underwriters to market MONY life & health insurance products along with securities registered through the Securities and Exchange Commission. I also marketed the products as a dual capacity employee of MONY and a Registered Representative of MONY Securities Corp.
Beginning in 1983 MONY introduced a series of products designed for retirement and high increasing death benefits based upon dividends that the company claimed were conservatively illustrated at a 7 to 7.5% return on the company's invested assets. The products were used in many different ways to illustrate educational savings plans, guaranteed retirement funding, pension maximization and elimination of the survivorship benefit for members of the military as well as replacement of IRA accounts. These policies were widely marketed as sound "investment grade" life insurance contracts accompanied by an array of company furnished sales literature and materials.
Simply put, the products were a PONZI and the literature used to defraud the public was false. The dividends had been illustrated based on a 11 to 12% return on assets with inflated values as well as nonexistent assets. The company's financial statements were fraudulent, the company was insolvent and had no way of paying the dividends that had been illustrated. At least one million Americans were the victims of this fraud which is ongoing and worsens over time. It is crystal clear that both state and federal agencies took an active part in sheltering this fraud. The Securities and Exchange Commission has through FOI admitted that they can't produce an accurate, concise and properly opined financial statement for MONY for any time in the last 10 years.
Effective February 1, 1991 MONY terminated my contract without cause. As a result of discovery in the ensuing litigation, which was settled to my satisfaction on the eve of trial in 1993, I became concerned for the safety of my pension and investments held by MONY.  In an effort to assuage those concerns I obtained additional documentation from the New York Department of Insurance and agreed to work as a case consultant on several suits against MONY by other employees and policyholders that helped me secure additional information concerning serious criminal activity and a massive fraud on the public. The 1991 NAIC examination of the company (released in 1993) revealed more than $600,000,000 in illegal transactions.  MONY's former assistant general counsel had been the Superintendent of the New York Department of Insurance from 1983 to 1991 when the fraudulent accounting and looting started.
You may recall that during the Florida election trials the "Bush Team" named one of America's foremost accountants, Mr. R. Larry Johnson CPA, to testify as an expert witness. Coincidentally, Mr. Johnson had previously been called upon in 1995 to render an opinion on MONY's financial statements and review the N.A.I.C. examinations of the company.  His sworn affidavit is posted at http://pwcsucks.com/id7.html for your review. It should be noted that he did not know that Coopers & Lybrand had been violating the auditor independence rules by selling financial instruments to the company on the side while issuing false opinion letters certifying MONY's financial statements that contained 100s of millions of dollars in fraudulent transactions nor was he aware of the Florida Department of Insurance investigation by current U.S. Senator Bill Nelson that revealed more than a billion dollar surplus shortage on the statements filed in Florida.  The Florida letter to MONY's Chairman, Michael I. Roth is posted @http://www.MONYBUSH.com/. Mr. Roth who signed MONY's fraudulent financial statements is a former Coopers and Lybrand partner and is currently Chairman of the Interpublic Group of Companies Inc. 
Beginning in 1995 I reported, as mandated by Article 1.10d of the Texas Insurance Code, suspected fraud in the business of insurance and asked for help for policyholders to the Texas Department of Insurance and to Governor George W. Bush concerning the fraudulent financial statements of MONY, the looting of the company and the PONZI insurance contracts that were used to defraud the public. Mr. Pete Wassdorf, who General Counsel to Governor Bush and later to Texas AG Greg Abbott, responded on behalf of Governor Bush that they could not help because it would be inappropriate for the governor of Texas to contact the governor of New York and interfere with the operation of a New York domiciled company.
During the same time that I was seeking help from Texas, I contacted Walter Ricciardi in the general counsel's office at Coopers & Lybrand and provided him with documentation including the Johnson affidavit and asked him to help resolve the matter. He informed me that he had checked it out and it was "no problem" selling bonds and financial instruments to MONY while acting as the independent accountant.  Coopers & Lybrand was later merged with Pricewaterhouse. He would later be appointed Deputy Director of Enforcement for the Securities and Exchange Commission.
During 1997 I provided Mr. Joseph Dimaria of the Securities and Exchange Commission with documentation of the false financial statements and later got his admission that MONY had in fact filed false financial statements with the SEC. He then said that he could no longer talk to me and hung up. In 1998 I asked Arthur Levitt, Chairman of the Securities and Exchange Commission, to help policyholders get an accurate financial statement for the company prior to their being asked to vote on demutualization. I received a response from the Northeastern District Administrator, Carmen J. Lawrence, who informed me that MONY did not file financial statements with the SEC and that they could not help me. She was lying! MONY had filed financial statements with the SEC since the early 70's.  The SEC then allowed MONY to go forward with an Initial Public Offering in excess of a billion dollars.  Shortly after the IPO I gave the SEC letters to Michael Schroeder at the WSJ.  Soon afterwards I received a call from SEC attorney Dorothy Heyl wanting to help me resolve the matter and asked me to work with her on the SEC investigation. The SEC then refused to talk to the media because of the confidentiality of their investigation. Three years later Mr. Frank Henderson, FOIA/Privacy Branch Chief, at the SEC admitted that there had never been any investigation. Ms. Lawrence resigned and became Harvey Pitt's co-partner at Fried Frank Harris Schriver and Jacobson and assumed his practice when President Bush appointed him chairman of the SEC.
Prior to the demutualization of MONY I contacted a substantial number of elected officials and asked for their help in obtaining "an accurate, concise and properly opined financial statements, like the law says that I am entitled too, for MONY". I also contacted the Dallas office of the FBI and provided then with the sworn affidavit of MONY employee Alexis Daniels detailing the use of company funds by officers for home theaters and stereo systems and falsified expense vouchers to steal from the company. They sent me a letter saying they had transferred the case to their New York office.

After Senator Phil Gramm's office proclaimed him to be "powerless" to cause anyone to produce an accurate financial statement for MONY I contacted Senator Kay Bailey Hutchison and asked for her help with the financial statements and in moving the FBI along. I provided the Senator's office with a copy of the N.A.I.C. audit of the company and the letter from the FBI. Her office said they could help. Five months later the best they could do was provided me with another copy of the same N.A.I.C examination of the company that contained over $600,000,000 in illegal transactions and claimed the FBI could find no record of the letter they sent me or any investigation. Senator Hutchison was unable to explain the $687,000 MONY paid to her husband's law firm (Vinson & Elkins) that MONY failed to disclose on the financial statements as required by law. Senator Hutchison is also a former partner at V&E.
Senators Kay Bailey Hutchison and Fred Thompson both refused to help with a Freedom of Information request for the orphan child of a dead fireman that held the Navy Cross. The request pertained to falsified expense vouchers being used to get money for illegal campaign contributions that I learned about while working as a case consultant on a suit by another MONY manager. I witnessed his admission to an attorney that he had done it with the blessing of two officers of the company. Vinson & Elkins was defending many of the lawsuits brought by MONY agency managers and employees.  I obtained a number of sworn affidavits from court records alleging misconduct by 3 of V&E's attorneys. In Wassell v MONY V&E attorney Douglas Hamel named a dead man (John McCole) as a witness and V&E attorney Shadow Sloan then billed the policyholders of the company for a conference call with the corpse! You may recall that Webster Hubbell went to prison for fraudulent billings. The Texas Department of Insurance saw nothing wrong with the fraudulent billings. Jose Montemayor, who was the Texas Commissioner of Insurance, previously told me he saw nothing wrong with MONY's management using falsified expense vouchers to get money for gambling. 
New York and Connecticut Attorneys General Spitzer and Blumenthal both investigated MONY's sale of the fraudulent PONZI contracts and extracted millions of dollars for the benefit of their respective states and then closed their cases without considering the 100's of thousands of us that had also been victims of the same fraud. As a matter of fact, those of us with the same contracts actually paid the money Spitzer / Blumenthal collected for their constituents. You can review the information and news articles on thehttp://www.spitzerag.com/ and
http://pwcsucks.com/id10.html web sites.
"During mid 2002 the SEC fined PricewaterhouseCoopers LLP and PricewaterhouseCoopers Securities LLC $8,000,000 for taking 14 companies public with false financial statements"and then refused my many FOI requests to identify the 14 companies. MONY will be one of those companies and most likely the reason that Walter G. Ricciardi was brought to the SEC in early 2004 as the head of the Commission's Boston office and later as the Deputy Director of Enforcement in 2005. Now the SEC says the documents have been destroyed due to retention.  Are there 13 other companies like MONY out there? During 2004 MONY was purchased by AXA with the full knowledge that MONY's financial statements were false and that PricewaterhouseCoopers, who stood on both sides of the sale, was not independent as stated in their opinion letters and had been responsible for the fraud in the first place.  AXA CFO Denis Duverne also refused to provide the requested information to policyholders and shareholders.
Much has been said about the SEC's missed red flags on the Madoff scandal....... MONY was not missed red flags!
For brevity's sake I have posted a detailed history at http://www.GonzalesAG.com/ and the confirmation by U.S. Senator Bill Nelson at http://pwcsucks.com/. Additional information is available at http://www.SpitzerAG.com/ and http://www.MONYBUSH.com/ and http://www.TAMUEX.com/.
 Additionally you may want to contact Kathleen Sebelius to verify details of the Kansas Department of Insurance and the NAIC's involvement. She is featured at http://pwcsucks.com/id8.html and was fully aware of the regulatory effort to hide MONY's insolvency.
I like many others purchased policies for retirement and financial security for my family.  I relied on not only on the financial statements of the company but on the regulator system and my government to protect my interests. Now, nearing my 72th birthday, I find that my government is just as corrupt as the thugs who stole my retirement and placed me in a tax trap.  A proper investigation of this is certainly warranted and I hope you will help as there is nowhere else to go. Your help will be greatly appreciated.
Please do not hesitate to contact me with questions or for documentation. You may contact me at 817 946-8097 or email rabshire@aol.com.
R. Dale Abshire
2606 Twelve Oaks Lane
Colleyville, TX 76034
                                             Corrupt Congressman takes $$$$ from French Corporation 
Congressman Paul Kanjorski
2188 Rayburn HOB
Washington, DC 20515
Dear Mr. Kanjorski:
The Securities and Exchange Commission recently admitted that they do not have an accurate, concise and properly opined financial statement for The Mutual Life Insurance Company of New York and its successors for any time in the last 10 years. They also lied to me about the destruction of documents that I have requested under Freedom of Information. Attached is the letter to Chairman Cox. As a licensed insurance and securities agent I have had all the information contained on the web sites reviewed by both state and government agencies. They did review the information and made no requests for correction.
              The SEC knowingly allowed MONY to be taken Public with fraudulent financial statements.... lied to policyholders, destroyed evidence and violated FOI laws to hide their crime. The PONZI policies are still in force and
and the PONZI is ongoing and MONY/AXA's financial statements are false!
My elected officials ( Joe Barton, Kay Bailey Hutchison, Phil Gramm, John Cornyn, Gov. Rick Perry, AG Alberto Gonzales and former Texas Gov. George W. Bush) were unable to help due to person and financial conflicts. 
Can you help resolve this matter? I have the information and documentation on the web sites listed in the letter to Chairman Cox. The http://www.gonzalesag.com/ site has the most complete history of MONY.
Please do not hesitate to contact me with any questions.
R. Dale Abshire
2606 Twelve Oaks Lane
Colleyville, TX 76034                       
Subject: AXA / MONY
Date: 6/13/2008 3:06:26 P.M. Central Daylight Time
To: chairmanoffice@sec.gov
CC: foia/pa@sec.gov, enforcement@sec.gov, Glenn.A.Fine@usdoj.gov, Mike.Geeslin@tdi.state.tx.us

Mr. Christopher Cox
Securities & Exchange Commission

June 13, 2008

Dear Mr. Cox:

This afternoon I once again noted the SEC reviewing the contents on my web sites that contain information about criminal conduct by various elected officials and members of the SEC with regard to AXA and MONY. It reminded me that Linda Chatman Thomsen had not bothered to respond to my October 31, 2005 FOI request (copy attached). I recently testified in a Texas court that my sites had been reviewed without objection by the Texas Department of Insurance, the USDOJ and the Securities & Exchange Commission. I ask again that the SEC comply with the FOI request and state any objections to the information contained on those sites.
My web sites are:

 http://www.SPITZERAG.com/    http://www.MONYINTERNATIONAL.com/

 http://www.MONYBUSH.com/   http://www.MONYSUCKS.com/   http://www.TAMUEX.com/ 


If upon review the SEC determines that any of the content of the sites is incorrect I ask that you please let me know ASAP so that I can make the proper corrections. If I do not hear from you I will assume that you are in full agreement with the content. Your help with the FOI will be greatly appreciated.


R. Dale Abshire
2606 TWelve Oaks Lane
Colleyville, TX 76034


Subj: Attention Linda Thomsen ..... Fraud Report / FOI
Date: 10/31/2005

Linda Chatman Thomsen
Director, Division of Enforcement
US Securities and Exchange Commission

Dear Ms. Thomsen:

I have noted your promotion of Walter Ricciardi as "Deputy Director of the Division of Enforcement" for the SEC and wanted to verify with you that he in fact is the same Walter Ricciardi that I have featured on the http://www.PWCSUCKS.com/ web site. Mr. Ricciardi is directly responsible for your inability to produce or cause to be produced an accurate, concise and properly opined financial statement for The Mutual Life Insurance Company of New York and its successors for over 20 years. Mr. Ricciardi belongs in jail for his part in this ongoing cabal.

Under Freedom of Information I request that you provide me with an accurate, concise and properly opined financial statement for the above referenced company, commonly referred to as MONY, for anytime in the last 10 years that the SEC will stand by. I also request that you provide me with any and all communications between the Securities and Exchange Commission and PricewaterhouseCoopers L.L.P. that relate to the lack of independence by PWC with regard to MONY's financial statements along with communications to and from MONY and AXA.

I also request the information previously requested in the letter enclosed, (Under Freedom of Information I request the names of the 14 companies that were not named in the PWC action by the SEC listed below. ("In the Matter of PricewaterhouseCoopers LLP, and PricewaterhouseCoopers Securities LLC, Exchange Act Release No. 46216 (July 17, 2002) http://www.sec.gov/news/press/2002-105.htm").

I am also attaching a copy of a recent letter to Senator Bill Nelson relating to his part in the perpetrating of this fraud on the public. This is a fraud that was condoned and aided by the Securities and Exchange Commission.

Please do not hesitate to contact me with any questions or clarifications of the requested information. You may also find it easier to simply tell the truth about this matter that has gone on far too long.


R. Dale Abshire
3308 Pin Oak Lane
Bedford, TX 76021

Walter Ricciardi worked in the general counsel's office at accounting firm Coopers & Lybrand from 1984 until he became the litigation practice group leader in the general counsel's office when Coopers & Lybrand merged with Pricewaterhouse in 1998. In 2004, the SEC named Walter the head of its Boston office, which has jurisdiction over six states and has been involved in many of the investigations and cases brought against mutual fund companies.

Mr. Ricciardi was deeply involved in the criminal conspiracy to hide MONY's fraudulent financial statements and the looting of the company while at PWC and Coopers & Lybrand. He was fully aware that PricewaterhouseCoopers used the fraudulent statements to take MONY public in 1998 and that PWC was still not independent when they aided in the sale of MONY to AXA for less than book value. He is a common thug that now prosecutes other thugs for crimes less than his own!
Subj: control number 39718
Date: 98-04-06 14:40:29 EDT
From: RAbshire
To: Carol_Frasier@TDI.STATE.TX.US
CC: walter.ricciardi@us.coopers.com

Dear Ms. Frasier,

I have now received the information pursuant to my Open Records request for the "complete investigative file of MONY." Included in the file is a copy of my November 15, 1995, "consumer complaint" to Mr.Bomer that he did not bother to answer. The file also contained a sworn affidavit signed by Ms. Alexis Daniels regarding the officer's "home theaters and stereo systems" along with other sworn affidavits by actuaries and CPA's that raise serious questions about the financial statements of the company. There was also a copy of the last audit of the company, which revealed $600,000,000 in illegal transactions.

The TDI contended that the 1994 financial statements of the company filed in Texas were correct and that I should rely on the "unqualified opinions" of Coopers & Lybrand. The financial statements revealed a "CONFLICT" by Coopers & Lybrand (the Anthony Crane transaction ) and failed to disclose $687,000 paid to Senator Kay Bailey Hutchison's, husband's law firm. The Florida Department of Insurance found a $150,000,000 problem with the real estate on the 1994 statement. The $5,000,000 per acre "Hobo Condo" property was not involved nor was it included in the sale to Governor Bush's associates. As a matter of fact, this $113 /sq.ft. property is about the only real estate owned by the company that hasn't been written down on the 96 and 97 financial statements. Considering the strong rise in real estate values in 96 and 97, it leaves little doubt as to the correctness of the prior valuations of the properties.

This is to confirm that Mr. Bomer and the Texas Department of Insurance took no action with regard to this consumer complaint. If you have any evidence to the contrary, you should fax it to 817 267-5055 immediately. If I have not received satisfactory proof by April 9, 1998, I will assume that you are in agreement with the
above statement. Further comment is forthcoming.


R. Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034

Letter to Andrew Brown re: TDI documents

Subj: MONY/Paula Anderson
Date: 9/21/99
To: Jeep48Brn@aol.com
CC: Florence.Shapiro@senate.state.tx.us
CC: jose_montemayor@tdi.state.tx.us, heyld@sec.gov
CC: paula_anderson@tdi.state.tx.us

File: C:\AOL30A\AMERIC~1.0\DOWNLOAD\DAVIDSON (4138 bytes)
DL Time (26400 bps): < 1 minute

Mr. Andrew P. Brown
3117 Brookhollow Drive
Dallas, Tx 75234-6434

Dear Mr. Brown:

The MONY financial statements that Senator Shapiro provided to you contained an opinion letter by PricewaterhouseCoopers L.L.P. that falsely claimed that they were "independent"! They are not in compliance with Article 1.15A of the Texas Insurance Code relative to independence (see attached letter from the Arizona Department of Insurance). They also issued unqualified opinions on the 1989, 90 and 91 financial statements that contained hundreds of millions of dollars in illegal transactions according to the 1992 audit by the New York, Oklahoma, Georgia and Nevada Departments of Insurance. You should not rely on the financial information contained in these statements! According to CPA reports in the TDI Fraud Unit files you should not rely on any of the statements after about 1982. From 1983 through 1990 is when MONY's former assistant general counsel was the Superintendent of the New York Department of Insurance.

With regard to Ms. Paula Anderson's comments regarding the responsibility of the New York Department of Insurance to conduct examinations of the company, I am attaching a copy of a suspected fraud report that I made to the Indiana Department of Insurance (after members of the Texas Department of Insurance refused to respond to correspondence) that might help you understand where your child's money went. I hope that you don't object to my having used your policy as an example.

If you need more information or I can answer any of your questions, please don't hesitate to contact me at 817 267-2020.


R. Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034




Carmen J. Lawrence


Turtle Creek Property
$5 million per acre ($18m total)
Just one of many MONY investments!!

Bush / Pitt