Utah man gets 15-year prison sentence for insurance fraud
SALT LAKE CITY (AP) — A Utah man has been sentenced to 15 years in prison and ordered to pay full restitution after defrauding his insurance clients.
The Salt Lake Tribune reports 41-year-old Brian Smart of Lehi took more than $1,800 from his clients between May 2005 and March 2006.
Authorities say many of Smart’s clients were elderly and the theft left them without retirement funds.
Smart was arrested in 2012 in connection with an investigation by the California Department of Insurance.
He worked for an insurance firm in Anaheim before moving to Utah.
Smart defrauded clients by persuading them to liquidate their annuities and give him the money, which he said he would invest.
Instead, authorities say Smart deposited the money into his own accounts and bought a home and other things for himself.
Information from: The Salt Lake Tribune, http://www.sltrib.com