Wednesday, August 4, 2021
73.9 F
Fort Worth

Ex-Dallas man gets 7 years for insurance scam of London firm

🕐 1 min read

DALLAS (AP) — A former Texas businessman was sentenced to seven years in prison and ordered to repay nearly $4 million in an insurance scam targeting a British company.

Federal prosecutors say 66-year-old Wesley Michael Woodyard was sentenced Friday in Dallas. Investigators say the 66-year-old defrauded ACE European Insurance Company of London from 2002 through 2013.

An indictment alleges Woodyard stole money meant to buy annuities for beneficiaries of ACE European Insurance policies, including United Nations employees hurt or killed in connection with their jobs.

Woodyard owned an insurance company and acted an agent to sell annuities. Prosecutors say Woodyard fraudulently induced ACE European Insurance to send funds to bank accounts he controlled.

Woodyard was arrested in Minnesota last year. He pleaded guilty to wire fraud in December.

Related Articles

Our Digital Sponsors

Latest Articles

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate