Rockford Insurance Executive Sentenced to More Than 4 Years in Federal Prison for Defrauding Clients
FOR IMMEDIATE RELEASE
ROCKFORD - A Rockford man was sentenced today by U.S. District Judge
Fendler, who pleaded guilty to the charge on
The sentencing was announced by
According to a written plea agreement, Fendler obtained bank account information from businesses and individuals who had applied for insurance policies through Fendler's companies. Using the victims' bank account information, without authorization, Fendler used on-line services to create fictitious electronic checks purportedly issued by the victims and payable to Fender's companies. Fendler deposited those fictitious checks into bank accounts he controlled and then kept those funds for his own purposes. Fendler also made unauthorized electronic withdrawals from his clients' bank accounts and the bank accounts of insurance agents and agencies that Fendler did business with, and then kept those funds for his own purposes.
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