An insurance agent in Florida will do time in prison for defrauding several NBA and NFL athletes by selling them fake insurance policies and keeping the premium payments for himself, reports NorthEscambia.com.
Kevin D. Webster pleaded guilty in February of this year. In his plea, Webster admitted to falsely representing that he had used NBA and NFL player clients' money to obtain umbrella insurance policies.
[Read related: Florida CFO Jeff Atwater announces 6 arrests in Workers' Comp fraud scheme]
As an insurance agent registered in Florida and other states, Webster falsely claimed to take out policies with coverage amounts ranging from $5 million to $1 million from United States Liability Insurance Group between 2008 and 2012. Webster instead stole approximately $140,000 in client policy premium payments, says NorthEscambia.com.
Last week, Webster was sentenced to 21 months in prison for wire fraud and was ordered to pay $144,229.07 in restitution.
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