Wednesday, May 30, 2012

California Vice Mayor Accused Of Embezzling $159K From Insurance Client

Joseph Medrano
Joseph Medrano, 48, of Clayton, California and the Vice Mayor of that city, has been accused of embezzling $159,000 from iPass, a client of his as an insurance broker.  According to authorities, Medrano kept insurance coverage premiums for iPass meant to be forwarded to Travelers Insurance.  Medrano, who was charged in February 2011, has plead not guilty.  Medrano also faces a civil suit filed by Travelers to recoup the premiums he allegedly kept for himself.

Read the story here.

Update (6/2/12): Medrano has pleaded not guilty to the charges.

Update (1/11/13): Medrano was sentenced to 3 years in prison.

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