Tuesday, June 8, 2010

Former Claims Adjuster In Louisiana Sentenced For Embezzling Nearly $300K

Edward Paul "Tiger" Verdin, 36, of Franklin, Louisiana, was sentenced to 46 months in federal prison for embezzling nearly $300,000 from Louisiana Oilfield Contractor's Association, (LOCA) where he had been employed as a claims adjuster. Prosecutors alleged that Verdin fraudulently funnelled $297,772 from LOCA, a local self insured worker's compensation group, to his own company, Legal Risk Management Consultant, a phony private investigative firm he created in July 2007. The company was paid for private investigative services not rendered. Verdin, originally charged in December 2009, pleaded guilty to mail fraud and money laundering charges this past January. Verdin was also ordered to pay restitution in the amount of $285,395.

Read the story here, here and here.

Read the DOJ announcement here.

Hat Tip: Reader Joe.

1 comment:

johnseomaven said...

This is the reason why professional ethics course is important not only for adjusters, brokers and agents but also for other professions.

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