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Insurance Firm Owner Sentenced For Wire Fraud

MINNEAPOLIS (AP) — A federal judge in Minneapolis has sentenced an insurance company’s owner to more than three years in prison for stealing nearly $2 million from two associations his firm served.

Judge Joan Ericksen sentenced 44-year-old Dennis Lee Pap, of Lynden, Wash., to 41 months in prison Tuesday on one count of wire fraud. Prosecutors say Pap used his company, Parthenon Risk Partners, to steal $1.8 million from Access Insurance Association and Pillar Insurance Limited.

Access is a Minnesota-based self-injured workers’ compensation association. Pillar is a property and liability reinsurance company.

Pap pleaded guilty in January to depositing the funds in his personal bank account.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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