ATLANTA (AP) — A federal judge has sentenced former Georgia Insurance Commissioner Jim Beck to more than seven years in prison for fraud.
The judge on Tuesday also ordered Beck to pay $2.6 million in restitution to make up for money he stole from an insurer.
Jurors in July swiftly convicted the 60-year-old Beck on 37 counts of wire fraud, mail fraud, money laundering and tax fraud.
The trial detailed a scheme that channeled more than $2.5 million from the Georgia Underwriting Association to Beck’s bank accounts.
Beck managed the insurer of last resort for years before he was elected to statewide office.
Insurance and Safety Fire Commissioner John King released the following statement in response to the sentencing:
In July, Jim Beck was found guilty of stealing over $2 million in GUA funds by a group of twelve of his peers. Today, he was officially sentenced to 87 months in prison for his crimes.
It is my hope that, with today’s sentencing, we can now finally move on from this unfortunate chapter and focus on continuing the great work we have accomplished since Governor Kemp appointed me to lead this Agency over two years ago.
During that time, we have made a number of personnel moves, ensuring we have ethical, capable leaders in the most critical positions of this Agency. We completely revamped our Criminal Investigations Division, growing our force of post-certified officers dedicated to cracking down on fraud across the insurance industry. And we have emboldened our Consumer Services team, recovering over $22 million for Georgia families.
As a former Police Chief and a current Military Officer, I’ve dedicated my life to service, and I am committed to continuing to lead this Agency with integrity. Today, I’m thankful we can now turn the page and focus all of our efforts on continuing the momentum we’ve established on behalf of all Georgia consumers.