The Ohio Department of Insurance announced that former Warren insurance agent Timothy J. Mulvey has been sentenced on charges of stealing clients’ premium payments.
The Trumbull County Court of Common Pleas sentenced Mulvey to five years of community control, 17 months of suspended prison time, 60 days in the Warren Alternative Sentencing Program and to pay restitution in the amount of $52,325.46.
The department said its investigation found that Mulvey, owner of Mulvey Insurance Agency, failed to forward multiple premiums payments from his clients to the insurance companies. Mulvey instead kept the money for his personal use.
Mulvey surrendered his Ohio insurance agent and the Mulvey Insurance Agency licenses in April 2013.
Source: Ohio Department of Insurance
Was this article valuable?
Here are more articles you may enjoy.
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 
Uber Jury Awards $8.5 Million Damages in Sexual Assault Case 
Zurich Insurance’s Beazley Bid Sets the Stage for More Insurance Deals 
