It Figures

97

Former Maineville, Ohio, insurance agent William R. Appleton, II, was sentenced Sept. 1 in a U.S. District Court to 97 months imprisonment for one count of mail fraud and 60 months imprisonment, to be served concurrently, for one count of income tax evasion. He was also ordered to pay $6,281,252 in restitution to his victims, including $1,099,267 to the Internal Revenue Service. Last March, Appleton pled guilty to one count of mail fraud and one count of tax evasion after he defrauded at least 10 victims out of nearly $5 million. A joint investigation conducted by ODI, the FBI and the IRS revealed that from 2003 to 2007, Appleton posed as an investment advisor and convinced insurance clients to invest inheritance proceeds and money from their insurance products in the financial markets. However, Appleton apparently transferred the funds to his personal bank accounts and used them for personal living expenses, the operation of his companies, and payment to earlier investors who were seeking to withdraw funds from their accounts. He surrendered his insurance license on May 2, 2008.

$24,000

The South Dakota Supreme Court upheld a more than $24,000 damage award against Rapid City, S.D., apartment owner in a case filed by a woman who was kicked out of her apartment in 2002. The award includes $15,000 in punitive damages. The state Supreme Court said the defendant, Barker & Little Inc., waited too long to defend itself. It upheld a circuit court ruling that found the company let five years go by without taking the legal steps necessary to keep its defense alive. Peters alleged she paid her share of the rent but was locked out of the apartment. She said the company took her possessions, destroyed her property, caused her to lose her subsidized housing and caused her to suffer humiliation and emotional distress. AP

$12 Million

More than $12 million has been paid and more than 2,000 claims filed as a result of a July 8 tornado that struck Dickinson, N.D., the insurance department says. Many of the claims involve damage to homes. There has been increased interest in renter’s insurance since the storm, according to the Associated Press. Carson Steiner with BW Insurance Agency Inc.in Dickinson said he’s seen claims for damage to homes, cars and recreational vehicles.