Mary Ann Locke, 60, of San Jose, Calfornia, the former part owner and executive of the Wersching Agency, an insurance agency, was sentenced to 39 months in prison plus restitution in the amount of $8,308,410.87 for embezzling insurance premiums rightfully owed to the Farmers Insurance Group. Locke was originally indicted on August 24, 2005 for embezzlement of insurance funds, participation in the insurance business following a felony conviction involving dishonesty, wire fraud and money laundering. According to the indictment, Locke embezzled more than $8 million in premiums due Farmers between 1997 and 2000. She pleaded guilty on January 25, 2006 to embezzlement of insurance funds, participation in the insurance business following a felony conviction involving dishonesty and money laundering. Locke's business partner, Ray Wersching, the former San Francisco 49ers kicker, pleaded guilty to a misdemeanor charge of not filing a tax return.
Read the story here, here and here.
See the DOJ announcement here.
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