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View Full Version : Over 7,500 fraudulent claims of BP Spill Fund




Kludge
01-27-2011, 11:43 PM
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The fund was set up in August to handle thousands of claims for compensation from residents, business owners and fishermen across the Gulf Coast and beyond who can prove they suffered financial losses from BP PLC's April 20 oil well blowout off the coast of Louisiana. The Deepwater Horizon explosion killed 11 rig workers and sent millions of gallons of crude into the Gulf.

Feinberg testified in Washington on Thursday before a subcommittee of the Senate Committee on Homeland Security and Governmental Affairs. Lawmakers criticized Feinberg's operation of the fund and the slow pace of processing claims, questioning his commitment to transparency.

Feinberg's Washington law firm had been receiving $850,000 a month from BP for its work. He is currently negotiating with BP over a new payment structure for his administration of the fund through August 2013.

"As the Gulf continues to recover, I continue to have serious concerns regarding claims determinations made by this organization," said Sen. Richard Shelby, R-Ala., who noted that 38,604 claims in his home state have yet to receive "one penny in funding."

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