Brothers in Fraud: Carolina Insurance Agents Plead Guilty to Ponzi Scheme Charges

At sentencing, Joseph Floyd and William Floyd Jr. could face as much as five years in prison, a $250,000 fine and restitution to victims of the scheme, the U.S. Attorney for Eastern North Carolina said. Floyd's Insurance Agency has been a part of the Whiteville community, about 45 miles west of Wilmington, for years. Several other insurance agents and the head of the…