More than 18 months after he pleaded guilty to absconding with almost $5 million in premiums, a Florida insurance agent has been sentenced to 14 years in prison.
John M. Thomas, 52, the former owner of Thomas Insurance agency in Pensacola, also must pay more than $8 million in restitution, a federal judge decided this week.
“This sentence should serve as a significant deterrent to those who would defraud our citizens, in this case depriving them of critical insurance coverage, simply to unlawfully enrich themselves,” U.S. Attorney Jason Coody said in a statement.
