Judge Gives Insurance Scammer 4 Years, $13M Fine

Law360, New York (November 23, 2010, 5:53 PM EST) -- A federal judge has sentenced a Texas man to four years in prison and ordered him to pay a $13 million fine for his role in a massive scheme to sell sham insurance policies through offshore companies and con investors out of at least $50 million.

William Allen Broughton must also serve three years of supervised release after completing his prison term, according to the judgment handed down Monday by Judge Richard A. Lazzara of the U.S. District Court for the Middle District of Florida....
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