2 Sentenced For Life Insurance Fraud That Netted $1M
February 28, 2013 by Pioneer Press, St. Paul, Minn.
Feb. 28–TwoMinneapolis women were sentenced to prison Wednesday for fraudulently cashing in more than$1 million worth of life insurance policies at a company one of them worked for.
Angela Madison andTracy Jackson, both 42, were sentenced inU.S. District Court inSt. Paul to one count each of aiding and abetting mail fraud. Madison was sentenced to 35 months in prison and was ordered to pay just over$1.6 million in restitution, and Jackson received 27 months and was ordered to pay roughly$1.1 million.
According to her plea agreement, Madison worked as a policy plan and service coordinator forING Life Insurance. Between 2003 and 2012, she fraudulently cashed in life insurance policies for clients, including Jackson, and the checks — 196 in total — were either mailed to Jackson or given to her after Madison intercepted them. Jackson then split the money with Madison.
Both women pleaded guilty last year.