John Gumbs of St. Thomas, US Virgin Islands, was convicted today on felony fraud charges by a jury after it deliberated for only 30 minutes. Gumbs was accused in a two count indictment, including obtaining money by false pretense and racketeering, of bilking clients out of $200,000. Prosecutors alleged that over the course of nearly three years, Gumbs, through his insurance agency, John J. Gumbs Insurance Agency, collected insurance premiums from some 246 policyholders which he misappropriated. Gumbs was originally arrested in November 2008 after US VI insurance investigators identified a "pattern of fraud" in a routine audit.
Read the story here and here.
Hat tip: Reader Joe
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