A San Diego attorney was sentenced to just over one year in prison Wednesday for stealing more than $500,000 in life insurance premium payments.
According to the U.S. Attorney's Office, Howard Abbott, 76, served as the trustee on a life insurance policy purchased by the victim in 2009.
The victim regularly provided Abbott with funds so he could make premium payments, but prosecutors say the policy was terminated in 2015 for non- payment. Abbott hid the policy's termination by forging documents, among other methods, and kept $515,900 of the money the victim sent to him, the U.S. Attorney's Office said.
The victim discovered the policy's termination after the person insured by the policy died in 2019. The victim, who paid $1.8 million in total for the policy's purchase and premium payments, should have received a death benefit of $2.5 million, but instead got nothing."For years, the defendant claimed to be making premium payments, but was really pocketing the money," U.S. Attorney Randy Grossman said.
In addition to prison, Abbott will spend one year in home confinement after he's released from custody and was ordered by a judge on Wednesday to pay $1.8 million in restitution to the victim.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
$500 billion question: The real cost of Supreme Court decision on Biden student loan planThe gargantuan price tag for President Joe Biden's student loan forgiveness plan is garnering renewed scrutiny as the Supreme Court prepares to hear oral arguments on the constitutionality of the policy Tuesday.
Baca lebih lajut »
UBS loses bid to stop Chinese businessman's $500 mln London lawsuitUBS faces a $500 million lawsuit in London brought by an exiled Chinese businessman after an appeal court on Wednesday rejected the Swiss bank’s latest attempt to have the case thrown out.
Baca lebih lajut »
Home Depot is having a generator sale that could save you over $500 - AutoblogLosing power can cause some major headaches. Luckily, Home Depot has a great sale going on right now that could save you over $500 on a new generator.
Baca lebih lajut »
Stimulus update: Direct $500 payment to be sent to more than 300 families in 14 daysThere are only two weeks before select California families will receive a payment of $500 from a guaranteed income program. The program, Pathway to Income Equity, gives $500 to 305 families in Sonoma County every month over the course of two years.
Baca lebih lajut »
Conservative Political Action Conference begins in Washington, March 1 -SAN DIEGO (KUSI) The Conservative Political Action Conference is the largest fathering of conservatives in the world. This year, it will be held in Washington DC from March 1-4. Political Strategist Julio Rivera joined KUSI’s Logan Byrnes to discuss the event and it’s political significance. Categories: Entertainment, Good Evening San Diego, Good Morning San Diego, KUSI, Local San...
Baca lebih lajut »
San Diego Border Patrol seizes massive quantity of deadly, powerful drug, arrests three during traffic stopBorder Patrol agents in the San Diego Sector seized 232 pounds of fentanyl with a street value of about $3 million from a single vehicle, officials announced on Monday.
Baca lebih lajut »