Louisiana Citizens Property audit finds state-run insurer misused property of Louisiana citizens

This story by Becky Mowbray in the Times-Picayune paints an even bleaker picture of an organization that, it has been apparent for some months, was mismanaged and out of control. But now, the state's audit of Louisiana Citizens Property makes it look like some kind of kleptocracy. Here's the story's lede:A long-awaited audit report on the troubled Louisiana Citizens Property Insurance Corp. found evidence of fraud and abuse on Monday by the state-sponsored insurer of last resort, which did not have enough money to pay claims after Hurricane Katrina. The special investigation by Legislative Auditor Steve Theriot found that Citizens and related entities spent more than $1 million between 2004 and 2006 on travel, meals and entertainment even though Citizens isn't supposed to be recruiting bu