Ex-Georgia Insurance Commissioner Jim Beck was convicted Thursday, on Fraud and Money Laundering charges, in a scheme against an insurer that he managed. Jurors returned a guilty verdict on all 37 counts against Beck in the federal trial in Atlanta.
According to news reports, Beck was accused of stealing more than $2.5 million from the state-chartered Georgia Underwriting Association (GUA) – by funneling money to himself through a series of companies – he was indicted just several months after he took office in 2019 as Insurance Commissioner. He had managed GUA for a number of years prior to taking office.
Beck, who is scheduled to be sentenced sometime in October, is confined to his home in Carrollton, while awaiting court appearances and sentencing.
Insurance & Safety Fire Commissioner John F. King commended the law enforcement professionals involved and the U.S. Attorney’s office for their work “…in bringing this case to a close and for ensuring justice for the gross misuse of Georgia Underwriting Association dollars.”
WZQZ Chattooga County Radio / GNN / Compiled Reports