ABixby, Okla., man has pleaded guilty to taking commissions earned by insurance agents working for his firm, according to the Oklahoma Insurance Department.
The OID said Christopher Bland, with Business Consulants of South Tulsa, admitted to a scheme to defraud Colonial Life & Accident Insurance Co., various insurance agents in his offices and a local bank by taking commissions illegally and by opening bank accounts for agents without their authorization.
He pleaded guilty to one of 14 counts of wire fraud, but agreed to pay restitution for the other offenses, including 12 counts of lying to a financial institution.
Bland’s guilty plea rose out of an investigation by the OID’s Anti-Fraud Unit. He was arrested in January with the assistance of the FBI and Oklahoma Highway Patrol.
Was this article valuable?
Here are more articles you may enjoy.
Berkshire Hathaway Raises New CEO Abel’s Salary to $25 Million 
Good Times for US P/C Insurers May Not Last; Auto Challenges Ahead 
Relief But Questions on Agents’ Duties to Insureds After Florida Court Ruling 
CEOs on Guard as Trump Rattles Companies With Series of Edicts From This Issue
