Lawyer: Stock Trades Enriched Ullico Exec by LEIGH STROPE AP - The ousted chairman of Ullico Inc. amassed $8.8 million in 2000 and 2001 - nearly doubling his income from the four previous years combined - through special stock trades that were not properly approved and disclosed, according to a lawyer hired by the company to assess the deals.
Other executives of the union-owned insurance company also saw their compensation soar through the stock profits, said lawyer James Thompson, the former Illinois governor, who testified before the Senate Governmental Affairs Committee on Thursday.