A Philadelphia businessman who amplified the size of his legal benefits firm to gain more than $30 million in loans has been sentenced to 17 1/2 years in prison.
Gary Alan Frank was sentenced in Philadelphia where the judge described the defendant as a “serial pathological liar in all aspects of his life.”
Frank pleaded guilty in April to multiple counts of wire fraud and money laundering, among other crimes.
The 49-year-old owned the Philadelphia-based legal services company Legal Coverage Group Ltd. Federal investigators say Frank inflated the size of his business, claiming in bankruptcy filings it had $378 million in revenue in 2017 when it really had less than $2 million.
Frank has also been ordered to pay $33.7 million in restitution. His lawyer declined to comment.
Topics Fraud
Was this article valuable?
Here are more articles you may enjoy.
Ford Recalls 668,000 2014 F-150 Pickup Trucks Over Transmission Issue 
Farmers Adjusters Cry Foul Over Workloads, Claims Handling in Letter to Regulators 
Zurich to Buy AIG’s Travel Insurance Business for $600 Million 
Let Good Adjusters, Not Expensive Lawyers, Make the Difference on Claims, CEO Says 
