An Arlington Heights, Ill., agency was bilked out of more than $17 million by its senior marketing vice president and his wife, who tried to launder the money, according to a U.S. grand jury indictment released recently.
Robert S. Carter, 58, was charged with eight counts of mail fraud and four counts of tax fraud for concocting an elaborate scheme to steal the money from National Accident Insurance Underwriters Inc., an agency based in the Chicago-area suburb. Carter’s wife, Virginia, 59, was charged with 23 counts of money laundering, according to the U.S. attorney’s office.
Carter, who lives with his wife in another Chicago suburb, Highland Park, allegedly stole the money by diverting premiums to an account he controlled and creating bogus premium reports for lesser amounts to cover his tracks.
Virginia Carter, meanwhile, is accused of using the funds to buy high-value goods such as jewelry in an attempt at money laundering. The couple will be arraigned at a later date.