Ex-Insurance Broker Must Pay $25M For Fraud Cover-Up

Law360, New York (August 2, 2011, 7:07 PM EDT) -- A New Jersey federal judge on Monday ordered a former insurance broker to pay nearly $25 million in restitution and serve six months in prison for covering up an insurance premium financing scam.

U.S. District Judge Dennis M. Cavanaugh ordered the broker, Donald Bargholz, to undergo supervised release for one year.

Bargholz, the former controller of the brokerage firm Smith Gatta Gelok Insurance, admitted in February to covering up a scam run by one of the firm's partners, Gavin Gatta. Gatta also pled guilty and was...
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Case Information

Case Title

USA v. BARGHOLZ


Case Number

2:11-cr-00081

Court

New Jersey

Nature of Suit

Date Filed

February 6, 2011

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