Insurance agent pleads guilty to 3 fraud counts
Thursday, March 22, 2012
BOISE, Idaho (AP) -- A former insurance agent who worked in northern Idaho has pleaded guilty to three counts of fraud in federal court
Federal prosecutors say 56-year-old James K. Sokolis of Spokane, Wash., pleaded guilty after an investigation showed he misappropriated more than $356,000 in premium payments.
Investigators say Sokolis owned and operated Rockwood Insurance in Coeur d'Alene, then sold the company and his book of business in 2010. He then worked that business book for the new company until January 2011.
It was during that period that investigators say Sokolis took client money but failed to follow through on buying insurance products.
He faces up to 10 years in prison and fines of up to $250,000.
Sentencing is scheduled for June 12 in U.S. District Court in Coeur d'Alene.