A Marion, Iowa, insurance agent was sentenced to four years in prison for selling fraudulent securities, according to The Marion Star.
Paul L. Edwards, 68, received three years for reportedly engaging in a pattern of corrupt activity and one year for 27 securities offenses.
Prosecutors said Edwards had sold $400,000 in promissory notes to area investors. Edwards reportedly told the investors the notes were insured and were fool-proof, but they lost all of their money.
Was this article valuable?
Here are more articles you may enjoy.
Florida Senate President Says No Major Insurance Changes This Year 
Allstate Doubles Q4 Net Income While Auto Underwriting Income Triples 
AIG, Chubb Can’t Use ‘Bump-Up’ Provision in D&O Policy to Avoid Coverage 
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid 
