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Used money from clients for his personal use, to pay premiums for others
Frankfort, KY (CompNewsNetwork) - A Pulaski County Kentucky
insurance agent pleaded guilty to 11 felony counts of insurance fraud and four felony
counts of criminal possession of a forged instrument after he took money from clients to
pay premiums for various insurance products but did not purchase the coverage. Instead, he
used the money for personal expenses or to pay partial premiums for other customers.
James Garner Sadler, 57, of Somerset, accepted more than
$17,000 from clients who thought they were purchasing life, health or Medicare supplement
insurance.
The case was investigated by the Kentucky
Department of Insurance (DOI) Fraud Investigation Division. DOI investigators believe there
may be more victims and ask anyone who purchased insurance from Sadler and Sadler Insurance
to call 502-564-1461.
Sadler received a six-year, suspended sentence in Pulaski Circuit Court. He will be
placed on supervised probation for three years or until restitution of $14,359.66 has been
made. The restitution includes investigative expenses to DOI. In addition, Sadler must pay
the cost of court proceedings within 90 days; may not hold any position of trust or
fiduciary responsibility; may not conduct any insurance-related business; must pay
restitution of $250 per month to the Pulaski Circuit Court; and must perform 450 hours of
community service.
The Department of Insurance is an agency
of the Public Protection Cabinet.
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