Jurors convict former Georgia insurance chief in $2M fraud

Georgia News

ATLANTA (AP) — A jury has convicted Georgia’s suspended insurance commissioner of all 37 charges against him at his trial.

Jurors returned guilty verdicts Thursday against Jim Beck on wire fraud, mail fraud, money laundering and tax fraud charges.

He faces a substantial prison term at sentencing in October.

Beck was indicted months after taking office in 2019. Prosecutors presented evidence that Beck ran a scheme to embezzle more than $2 million from the Georgia Underwriting Association.

Beck managed the state-chartered private insurer of last resort for years before being elected.

State law says he is automatically removed from office on conviction.

A judge ordered Beck confined to his home until sentencing.

The commissioner of Insurance and Safety Fire released the following statement on the conviction:

While today is a somber one for our state, I commend the U.S. Attorney’s office and our law enforcement professionals for their work bringing this case to a close and ensuring justice for the gross misuse of Georgia Underwriting Association dollars.

When Governor Kemp appointed me to this role, I was tasked with restoring integrity and ethics to this office, and that’s been my priority since day one. I look forward to continuing to move this Agency into the future, leaving behind the corruption of the past, and putting Georgia consumers first.

Insurance and Safety Fire Commissioner John King

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