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.
’60 Minutes’ Homeowners Ask Court to Force DFS to Divulge Heritage Probe Info 
Good Times for US P/C Insurers May Not Last; Auto Challenges Ahead 
2 New Jersey Pilots Killed in Helicopter Collision Frequented Nearby Cafe Together 
Howden Buys M&A Insurance Broker Atlantic Group in US Expansion 
