The Kansas Insurance Department (KID) reported that former Kansas City-area insurance agent, Ron Brown, has been convicted on federal charges of insurance and mortgage fraud, and handed a 15-year jail term.
The KID’s Anti-fraud Division provided federal authorities with more than 30 cases that had been opened in the investigation of Brown, who was convicted Jan. 6 in federal court on wire fraud and money laundering counts. He was sentenced to serve 15 years in jail, to be followed by three years’ supervised probation, and he was ordered to pay back more than $3.1 million in restitution to his victims.
Brown was indicted by a federal grand jury in December 2007 for allegedly issuing certificates of insurance for mortgage applications that he knew were fraudulent.
Kansas regulators previously had issued an emergency cease and desist order for any insurance activities for Brown, his wife Deatrice, and the Brown Insurance Agency.
Was this article valuable?
Here are more articles you may enjoy.
Albertsons Reaches $774 Million Opioid Accord, Records Loss 
US E&S Growth Slows Again; Declining Berkshire Volume Tops Leaders 
Data Centers Offer a Potential $10 Billion Windfall for Insurers 
Wildfires Race Across US as Drought Spans Half the Nation From This Issue
