Five-year sentence for theft of insurance investments | Arkansas Blog

Thursday, January 12, 2017

Five-year sentence for theft of insurance investments

Posted By on Thu, Jan 12, 2017 at 9:37 AM

Samuel Bowron Phillips, 41, of Fort Smith has been sentenced to five years in federal prison for a scheme in which he took $1.6 million from customers of his insurance business.

U.S. Attorney Kenneth Elser announced the sentence, given on charges of mail fraud, wire fraud and money laundering. He's been ordered to pay restitution and serve three years of supervised release after the prison term.

An investigation began after customers told the Arkansas Insurance Department they'd learned annuities they'd been sold by Phillips were non-existent. He took 21 annuity and insurance policy customers' money for his own use by putting the money into sham companies. He pleaded guilty last June.

Tags: , ,

Sign up for the Daily Update email


Showing 1-1 of 1

Add a comment

Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by Max Brantley

Readers also liked…

  • A response to police arrests becomes a tutorial on race, class and policing in Little Rock

    John Walker, the 79-year-old civil rights lawyer, and his associate, Omavi Shukur, 29, a young lawyer devoted to criminal justice reform, talked to press this afternoon about their arrests Monday by Little Rock police for supposedly obstructing governmental operations in observing and attempting to film a routine police traffic stop. It was a tutorial on sharp views of race, class and governance in Little Rock.
    • Sep 29, 2016
  • Former Arkansas Baptist professor 'exploring' run for Little Rock Ward 7 city director

    Edmond "Ed" Davis, a former professor at Arkansas Baptist College and the executive director of a school applying for a charter in Southwest Little Rock, will announce the formation of an exploratory committee for a campaign for the Little Rock city director Ward 7 position. Brenda "B.J." Wyrick has held the position since 1994.
    • Apr 3, 2018
  • Donald Trump declares war on Hillary Clinton's marriage

    Donald Trump gave a remarkable interview to the New York Times yesterday in which he declared open season on the marriage of Bill and Hillary Clinton and Bill Clinton's past infidelity. Seems like a loser, but I've been wrong before.
    • Oct 1, 2016

Most Viewed

Most Recent Comments



© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation