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quickly.<br />

MR. SERPICO: I'm s<strong>or</strong>ry.<br />

ACTING CHAIRMAN SKINNER: No such luck.<br />

MR. CARMELL: But <strong>you</strong> notice I did move<br />

COMMISSIONER MC BRIDE: Mr. Serpico, I am<br />

intrigued by th<strong>at</strong> chart. You were the tr<strong>us</strong>tee of the<br />

Health and Welfare Fund, right?<br />

MR. SERPICO: Right.<br />

COMMISSIONER MC BRIDE: Th<strong>at</strong> shows five mil­<br />

lion in dental premiums of which about 32 percent were<br />

<strong>us</strong>ed f<strong>or</strong> benefits and 68 percent, if <strong>you</strong> will, siphoned<br />

off f<strong>or</strong> overhead profits, commissions, nt cetera. And<br />

I Hon' t ask a quest.ion quite yet, but in my mind th<strong>at</strong><br />

is an un<strong>us</strong>ual and l<br />

indeed, an unquestionable level of<br />

siphoning off of proceeds of an insurance plan.<br />

Wh<strong>at</strong> really intrigues me is <strong>at</strong> the bottom<br />

where it shows Cantazaro, through salaries, commissions,<br />

through a variety of channels, ended up with two and a<br />

half million dollard. Aud my question is a very simple<br />

one. Did Mr. Cantazaro give <strong>you</strong> any money as a result<br />

of <strong>this</strong> scheme?<br />

MR. SERPICO: No.<br />

COMMISSIONER MC BRIDE: Do <strong>you</strong> think <strong>you</strong> were<br />

responsible in <strong>you</strong>r fiduciary duties through the dues<br />

5:>1

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