Thursday, December 25, 2008

Former Minnesota Insurance Agent Gets Off With Probation In $250+K Embezzlement/Theft Case

Wanda Jane Schafer, 54, of Mazeppa, Minnesota and a former insurance agent with Gillford Mutual Fire Insurance Co. of Lake City, Minnesota, was sentenced yesterday to 5 years probation and ordered to pay some $164,000 in restitution for the theft/embezzlement of about $259,000 from the company between 2002 and 2006. Schafer, who was indicted in June, plead guilty to insurance fraud and agreed to forfeit her license. Further, her plea agreement stipulated that Schafer could not obtain new credit or open new credit lines nor take any position requiring a fiduciary responsibility, among other things. It has been reported that she has already made restitution.

Read the story here, here and here.

Again, this seems like a light sentence, considering the amount stolen.

No comments: