“Stuart induced insurance agents for various entities throughout the United States and Canada to purchase over $8.5 million worth of fraudulently issued commercial liability insurance policies,'' U.S. Attorney Michael Garcia said in a statement.
$8 Million Insurance Fraud Case Has Canadian Man Pleading Guilty
Ian Stuart, who was arrested last March for selling more than $8 million in fake insurance policies to brokers, pleaded guilty on Monday. Stuart had told brokers that he represented Lloyd’s of London, Great American Insurance, and other carriers in a massive scheme to con them.
Published on June 5, 2007
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