A Tennessee lawyer pleaded guilty in mid-March to conspiracy and money laundering in an insurance fraud scheme masterminded by Martin Frankel. Frankel allegedly purchased insurance companies in Tennessee, Mississippi, Arkansas, Oklahoma and Missouri under the umbrella of Thunor Trust. He then looted $200 from their coffers.
John M. Jordan, 44, of Nashville, said he helped Frankel and others get control of the insurers. He faces a maximum of 40 years in prison and $750,000 in fines, but is cooperating with prosecutors and under the terms of his plea could be called to testify in related cases. Jordan was one of four Frankel associates named in an indictment. The other three have pleaded not guilty.
Was this article valuable?
Here are more articles you may enjoy.
US Supreme Court Rejects Trump’s Global Tariffs 
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Zurich Insurance Profit Beats Estimates as CEO Eyes Beazley 
State Farm Adjuster’s Opinion Does Not Override Policy Exclusion in MS Sewage Backup From This Issue
