One day you’re labeled the “best health-insurance chief financial officer for each of the past four years” by Institutional Investor, the next you’re frantically texting “ABORT!!” to one of your many girlfriends/fiancees, hoping that your double life isn’t discovered. Such is the life of ex-Wellpoint CFO David Colby. Colby allegedly carried on relationships with over 30 women in the last half of 2007 alone, according to one report, and proposed to at least 12 of them since 2005.

Well, it seems that his lustful ways have finally caught up to him. Now he’s facing lawsuits across the country from a number of these women, some accusing him of backing out of promises to give them boat loads of money and expensive items, and others accusing him of giving them STDs.

This all helps clarify why Wellpoint mysteriously fired Colby last spring, merely citing that some of his actions violated the company’s code of conduct and were of a “non-business nature” (most likely violating the manager’s responsibility of “Embracing the Wellpoint standards and casting the shadow of an ethical leader.” You can read their code for yourself, here).

Before that, he appeared to be held in high regard by Wellpoint and Wall Street analysts who labeled him as a straight shooter. “He would give you the good news along with the bad news,” stock analyst Thomas Carroll told the Associated Press. “If he said something, you could really hang your hat on it.” Colby was even a key architect in the $16.4 billion merger of Wellpoint and Anthem in 2004. In fact, after he was later passed over for Wellpoint’s CEO position, he was given a new title and pay-grade to convince him to stay with the company. Not too long after that, he was fired.

Now, it’s a little more clear why.