Insurance Firm Owner Sentenced For Wire Fraud
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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.
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