A Missouri insurance agent has been sentenced to prison for fraud following an investigation by the McDonald County Sheriff’s Office and the Missouri Department of Insurance, Financial Institutions & Professional Registration (DIFP).
Southwest Missouri insurance producer Brandon Gene Francisco was convicted of felony insurance fraud in the business of insurance, sentenced to seven years’ incarceration and ordered to pay $16,960 in restitution. He was sentenced on May 23 in McDonald County Circuit Court.
Francisco pleaded guilty to deceiving a client by taking her money but not securing the insurance he promised.
After receiving consumer tips against Francisco, the department’s Consumer Affairs Division conducted a thorough investigation and on June 7, 2016, the director filed a lawsuit to discipline Francisco’s insurance license for violating Missouri’s insurance laws.
The department previously fined Francisco in 2012 for similar violations.
Source: The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP)
Was this article valuable?
Here are more articles you may enjoy.
Industry Reacts to Senators’ Letter for Claims Data and Recent Reports 
Banking Watchdogs Ramp Up AI Scrutiny as Stability Fears Mount, Sources Say 
Viewpoint: The ‘Unbundled’ Insurer Emerges in Age of AI as Value Chain Fragments 
Harbor Emerges From Stealth with $10M Funding to Handle AI-Agent Risk 
