Ex-Insurance Agent Sentenced For Stealing From Clients, Firm
Prosecutors say a former insurance agent has been sentenced to 42 months in prison for stealing from his clients.
The U.S. attorney's office says 43-year-old Jason Matthew Pennington of Wichita pleaded guilty to two counts of wire fraud and one count of attempted bank fraud.
In his plea, Pennington admitted committing fraud while working as an agent for State Farm Insurance.
Prosecutors allege he forged a client's signature to obtain a $105,000 loan from a Phoenix life Insurance Co. policy.
In another wire fraud count, Pennington changed the address of a retired teacher's insurance policy to his business address.
Then he made a withdrawal of over $278,000 on the policy without her knowledge.
Another count dealt with false statements on a bank loan application.