A federal judge in New Jersey has sentenced a California man to 70 months in prison for conspiring to sell bogus liability insurance policies.
Ronald Allen of North Hollywood, Calif., was convicted in December following a seven-day jury trial.
Prosecutors said Allen conspired with Houston-based insurance agent Gilbert Morgan to sell commercial liability policies to bar and nightclub owners around the country, including in New Jersey.
The policies were issued by a fictitious company created by Allen and never paid any claims.
Prosecutors said the men collected nearly $700,000 in premiums. In addition to the prison term, Allen was ordered to pay full restitution.
Morgan previously pleaded guilty and is awaiting sentencing.
Was this article valuable?
Here are more articles you may enjoy.