According to Pennsylvania authorities, an insurance broker could spend decades behind bars if convicted on fraud charges. So-called white collar crimes -- such as fraud, tax evasion and embezzlement -- tend to have fairly severe consequences, in part, because of the significant amount of money that is typically involved. In this instance, millions of dollars in insurance policies was allegedly at the heart of the operation.
Officials believe that the insurance agent was not actually legally able to operate within the insurance business due to a prior conviction for a felony dishonesty charge. Despite this, he allegedly began brokering life-insurance policies for multiple clients. In total, he is believed to have issued policies that totaled up to approximately $7.5 million.
Aside from operating within the insurance industry when he was apparently not supposed to do so, he is also accused of committing wire fraud. An indictment claims that he did not divvy up commission payments between himself and other agents, and, instead, retained the full payments for himself. Investigators also claim that they discovered falsified paperwork and records that had been drawn up to conceal additional payments made by policy holders.
While previous convictions do not determine a defendant's innocence on newer charges -- that is a right protected by the law -- past criminal history can influence the severity of more current allegations. The potential consequences for a conviction on these particular white collar crimes could land the defendant behind bars for 85 years. In instances such as this, Pennsylvania defendants, along with legal counsel, can typically create a solid foundation for their defense by carefully reviewing all charges and related evidence in a timely manner.
Source: palmbeachpost.com, "Boca man faces insurance fraud charges in Pennsylvania", April 12, 2016