A former New Jersey insurance agent has been sentenced to five years in prison for stealing over $300,000 in premiums from numerous commercial clients.
Richard Pisacane, who served as CEO of the former Northern Financial Group, was also ordered to repay those premiums to Lincoln General Insurance Co.
Pisacane was indicted in February and, in August, pleaded guilty to the thefts, admitting that between Feb. 2004 and March 2005, he pocketed the premiums clients paid him for insurance through Lincoln General. He told the court he used the money to pay his children’s college tuition, credit card and car payments.
__
Source: New Jersey Attorney General’s Office
Was this article valuable?
Here are more articles you may enjoy.
Dunkin’ Cashier in Georgia, Stabbed by Rapper, Can’t Claim More Than Workers’ Comp 
In Alabama, Shot Employee Gets No Workers’ Comp and No Employer’s Liability 
‘Dream Is in Sight:’ Chamber, Reinsurers, Insurers Urge Florida to Stay the Course 
Acrisure CEO Greg Williams Makes $400M Commitment to Michigan State University 
