Ohio Roofer Gets Prison Time for Insurance Fraud, Money Laundering

August 11, 2014

Columbus, Ohio, roofer Terrance J. King, owner of Home Improvement Terrance King, which also did work in the Dayton area, has been sentenced to 48 months in prison and ordered to pay $241,000 in restitution.

In November 2013, King pleaded guilty to money laundering, false claims, and filing a false federal income tax return. King ran a roofing repair company that defrauded homeowners, businesses and several public entities, Lieutenant Governor and Department of Insurance Director Mary Taylor said.

The department started the insurance investigation that was then pursued by the Internal Revenue Service, the U.S. Department of Housing and Urban Development Office of Inspector General, and the United States Attorney’s Office for the Southern District of Ohio after concerns with King’s finances were uncovered.

King obtained money from insurance companies and his clients and, in many instances, either failed to complete work as promised or falsely used inferior, second-hand products on contracted job, the department said.

The investigation also found King laundered money for personal use, filed fraudulent documents to receive subsidized housing assistance, and filed false federal income tax returns.

Source: Ohio Department of Insurance

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