The former chief executive officer and founder of Eli Global (EG) and Global Bankers Insurance Group (GBIG) was sentenced Tuesday to 12 years in prison for a vast, $2 billion insurance fraud operation that bankrupted numerous insurance companies and cheated thousands of insurance policyholders, the U.S. Department of Justice (DOJ) said.
Adrianne Appel writes regulatory news, policy, and trends for Compliance Week. She previously reported about policy developments for Bloomberg Law and Bloomberg Government.
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