Ex-insurance agent sentenced for stealing from clients, firm

WICHITA, Kan. (AP) — 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 said Monday that 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 $278,250 on the policy without her knowledge.

Another count dealt with false statements on a bank loan application.

 

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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