PEORIA, Ill. (WAND) - A Decatur man who pleaded guilty to defrauding clients while working as an insurance agent has been sentenced to more than five years in prison.
According to the U.S. Department of Justice, James P. Smith, 60, was sentenced to 63 months in federal prison. In addition to the prison sentence, Smith must pay $349,777 in restitution, will remain on supervision for three years after his release, and cannot work in insurance or other financial-related businesses.
Smith pled guilty to wire fraud, money laundering, and two counts of mail fraud in March 2017. Prosecutors say the charges alleged that Smith defrauded clients while working as an independent agent at the Prairie State Insurance Agency from February 2011 until July 2016.
