Man Sentenced To 20 Months For Defrauding A Farmington Insurance Company For $1.4m

James Keating was sentenced to 20 months in prison on Tuesday after pleading guilty to defrauding his former employer Allied World Insurance of more than $1.4 million between 2017 and 2021.

Keating, 52, of Paoli, Pennsylvania, was an assis- tant vice president and surety bond claims handler at Allied World when he used a shell company to bill the company for “unnecessary claims work that was not performed,” according to Acting United States Attorney for the District of Connecticut Marc H. Silverman.

Keating also ‘‘solicited and recieved kickbacks” from Allied World vendors through another company he owned. He also had vendors use another company he had an ownership interest in for asset searches at “vastly inflated prices,” Silverman said.

Keating profited $1.475 million between the three companies, Silverman said.

U.S. District Judge Victor A. Bolden 1n New Haven sentenced Keating to 20 months in prison, followed by three years of supervised release. Bolden also ordered Keating to pay restitution of $1.23 million.

Keating pleaded guilty to wire fraud 1n July 2024.

The post Man sentenced to 20 months for defrauding a Farmington insurance company for $1.4M appeared first on Insurance News | InsuranceNewsNet.