Insurance Broker Sentenced to Over Four Years in Prison
Federal Information & News Dispatch, Inc. |
Insurance Broker Sentenced to Over Four Years in Prison
Dean Submitted False Applications for Insurance Premium Financing
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"Fraud in the insurance industry leads to higher costs for everyone, including the ultimate consumer," said
Dean was sentenced to four years, two months in prison, to be followed by three years of supervised release. He was ordered to pay restitution totaling approximately
According to
The false information was not the same on every application, but examples include the amount to be financed or the existence of an insurance policy when none existed. On some applications, Dean neglected to inform the premium finance company that the insurance policy had already been financed by another company. Dean defrauded the premium finance companies of approximately
This case was investigated by special agents of the
Assistant
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