Oil Spill Compensation Czar: 110,000 Claims Have ‘Zero Documentation,’ ‘Nothing’
CNSNews ^ | October 27, 2010 | Fred Lucas
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(CNSNews.com) – Nearly two-thirds of the outstanding compensation claims from the BP oil spill in the Gulf of Mexico have no documentation to backup their loss, according to the administrator in charge of distributing compensation money to the victims. Meanwhile, at least 50 claims are considered "very suspicious" and could be referred to the U.S. Department of Justice.
On terms largely dictated by the Obama administration, BP, a British multi-national corporation, agreed to set up a $20 billion escrow fund and have lawyer Kenneth Feinberg independently administer it to compensate victims of the oil spill.
The overwhelming number of compensation claims deal with economic loss or business interruption, said Feinberg, the presidentially appointed independent claims adjuster for the BP Deepwater Horizon Oil Spill Disaster Victim Compensation Fund.
“I have seen probably in the last eight weeks, 275,000 claims,” Feinberg told the U.S. Chamber of Commerce on Wednesday. “We’ve paid out already to 90,000 residents of the Gulf, individuals and businesses, $1.7 billion.”
“Now there are still thousands and thousands of claims that have not been paid. Why not?” he said. “Well, I’ll tell you why not. Of the 175,000 claims, about 110,000 of them are claims with zero documentation. Not inadequate documentation. No documentation. Nothing.”
More at link plus Video
(Excerpt) Read more at cnsnews.com ...
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Wow. one can only imagine the fraud going on.
