Trial Begins for Suspended Insurance coverage Commissioner| Employees Compensation Information

Thursday, July 15, 2021 | 0

Jim Beck’s trial began Tuesday with prosecutors reasoning that the suspended Georgia insurance commissioner ran a $ 2 million program that defrauded a high-risk property insurance association, according to a report by the Atlanta Journal-Constitution.

Jim Beck
(gpb.org)

Beck was elected insurance commissioner in 2018 and charged in May 2019 with, among other things, transfer fraud, postal fraud and money laundering.

The indictment alleges Beck encouraged friends to start businesses and send invoices to the Georgia Underwriting Association. He is said to have smuggled money through two companies he controlled.

Beck attorneys said Tuesday the US Department of Justice did not know enough about the insurance industry to investigate the case, according to the Journal Constitution report. They said that under his leadership, the Georgia Underwriting Association turned a profit for the first time in 40 years.

The process is expected to take two weeks.