A former Iowa insurance agent accused of siphoning more than $1 million from clients has pleaded guilty to federal charges.
Jack Straw pleaded guilty to four counts of wire fraud and one count each of mail fraud, possessing a forged security and money laundering.
The 50-year-old, who ran Financial Benefit Services Corp. in Waterloo and had an office in Mason City, was charged in December following investigations by the U.S Postal Inspection Service, FBI and the Iowa Insurance Division.
Prosecutors accused Straw of withdrawing clients’ funds, misleading them and forging signatures on documents, and selling land in South Dakota that belonged to a client.
Sentencing wasn’t immediately scheduled.
___
Information from: Waterloo-Cedar Falls Courier,
http://www.wcfcourier.com
Was this article valuable?
Here are more articles you may enjoy.
US Court Reinstates ‘Sunday Ticket’ Class Action Verdict Against NFL 
Father and Son Charged With Running ‘Chop-Shop,’ Selling Stolen Cars, Insurance Fraud 
Japan’s Cyberattack Surge Tests Its Push to Strengthen Defenses 
Learjet May Have Broken Up Before Fatal Florida Crash, NTSB Says 
