Amount - $3.7 million 

 
A former agent was sentenced to 50 months of federal prison for defrauding a lender out of $3.7 million for fraudulent applications for coverage for fine arts policies. The woman claimed to be placing insurance for clients but instead used the funds for her own purposes. She created dozens of fraudulent finance agreements to finance premiums for various art galleries she claimed to have sold insurance to. She made up policy numbers and created fictitious insureds.  She pleaded guilty to one count of wire fraud and was ordered to pay $1.8 million in restitution.