N.J. Agent Gets 7 Years For Fraud
NU Online News Service, May 24, 3:59 p.m. EDT?The former owner of a Southern New Jersey insurance brokerage firm, accused of embezzling close to $2 million in premium payments, will have to spend seven years in prison and pay his former clients back.[@@]
Philip A. McKeaney Jr., 44, of Cherry Hill, N.J, was sentenced to seven years in State prison and ordered to pay $1.16 million in restitution to the businesses he defrauded, said New Jersey Attorney General Peter C. Harvey. The sentence came last week after Mr. McKeaney pleaded guilty to charges of theft and misappropriation of funds back in November of 2003.
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