FBI investigates Berjac bankruptcy

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Friday, February 01, 2013

Federal authorities are investigating the $44 million bankruptcy of Eugene insurance premium financing firm Berjac of Oregon.

Many creditors of Berjac say they were never told the firm, which loaned money to small businesses so they could pay their insurance premiums, was investing in speculative real estate.

"Many of my clients had been investing in Berjac for years," said R. Scott Palmer, an attorney in Eugene representing several large creditors. "They always thought they were dealing with insurance premium financing."

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