Man To Serve 10 Years For Selling Fake Policies

Law360, New York (March 1, 2007, 12:00 AM EST) -- A man was sentenced Wednesday to 10 years in prison for his role in a fraud scheme involving the sale of $6.6 million in bogus Lloyd’s of London insurance policies.

Richard Peterson, also known as Robert James, had pled guilty to wire fraud and engaging in the business of insurance after having been convicted of a felony in the U.S. District Court for the Southern District of New York.

Judge Denny Chin ordered Peterson, who was indicted in July 2004, to pay restitution of $6.6 million...
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