Former Alabama Workers’ Compensation Executive Gets 12 Years in Jail
A former Montgomery, Alabama insurance executive will spend the next 12 years in federal prison for mail fraud and embezzlement in his insurance business.
The insurance executive who at one time was a prime supplier of workers’ compensation insurance in several southeastern states, was also ordered to pay $5 million in restitution to the insurance company he defrauded.
Convicted in February of mail fraud, embezzlement and filing a false report with the state insurance department, the executive reportedly used the monies he received to live a lavish lifestyle.
Federal prosecutors said as the owner of a well-known insurance group in Montgomery, he fraudulently collected workers’ compensation insurance premiums for two subsidiaries of his client insurance company and then failed to send the company the premiums of $4.5 million. (workersxzcompxzkit.)
The defendant was also accused of lying to the state insurance department about his company’s background.
Author: Robert Elliott, J.D.
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