A Tennessee lawyer pleaded guilty in mid-March to conspiracy and money laundering in an insurance fraud scheme masterminded by Martin Frankel. Frankel allegedly purchased insurance companies in Tennessee, Mississippi, Arkansas, Oklahoma and Missouri under the umbrella of Thunor Trust. He then looted $200 from their coffers.
John M. Jordan, 44, of Nashville, said he helped Frankel and others get control of the insurers. He faces a maximum of 40 years in prison and $750,000 in fines, but is cooperating with prosecutors and under the terms of his plea could be called to testify in related cases. Jordan was one of four Frankel associates named in an indictment. The other three have pleaded not guilty.
Was this article valuable?
Here are more articles you may enjoy.
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Portugal Deadly Floods Force Evacuations, Collapse Main Highway From This Issue
