ATLANTA (AP) – A jury on Thursday afternoon sentenced Georgia’s suspended insurance commissioner on 37 counts of fraud and money laundering against him to close a two-week federal trial, quickly returning the verdicts of guilt after the day’s pleadings.
Suspended Commissioner Jim Beck was convicted of wire fraud, mail fraud, money laundering and tax evasion charges by jurors in federal court in Atlanta. Beck was charged months after taking office in 2019.
Earlier, prosecutors presented evidence at trial that Beck orchestrated a scheme to embezzle more than $ 2 million from the Georgia Underwriting Association. Beck had run the state-licensed private insurer of last resort for years before taking office.
Beck came to his defense during the week. He had testified that the contractors he controlled provided valuable data that helped GUA increase its profits. However, prosecutors argued that the companies were doing little actual work.
Sentencing is scheduled for October 8. The judge ordered that Beck be confined to his home in Carrollton, west Atlanta, pending sentencing, except for court appearances and outings for medical treatment.
The testimony at trial spanned nine days before Thursday’s oral argument.
After federal prosecutors dismissed six counts, jurors were invited Thursday to consider verdicts on 37 counts of mail fraud, wire fraud, money laundering and tax evasion.