image credit: Adobe Stock

Florida Insurance Agent Who Used $5M in Premiums for Safari, Condos Gets 14 Years

March 23, 2023

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.

Read More on Insurance Journal