Tuesday, February 17, 2009

Former Alabama Insurance Executive Convicted Of Embezzling $4 Million

John W. Goff, 60, of Montgomery, Alabama, was found guilty by a jury on 23 counts of mail fraud, one count of embezzlement and one count of filing a false report in connection with the embezzlement of some $4 million in insurance premiums intended for Greenwich Insurance Co. and XL Specialty Insurance. Goff's company, Goff Group, offered worker's compensation insurance. Goff reportedly used the money to himself a $1 million salary, buy a private plane, a beach house and other real estate investments. He faces up to 30 years in prison, plus fines up to twice the amount embezzled.

Read the story here.

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