A Tennessee lawyer pleaded guilty in mid-March to conspiracy and money laundering in an insurance fraud scheme masterminded by Martin Frankel. Frankel allegedly purchased insurance companies in Tennessee, Mississippi, Arkansas, Oklahoma and Missouri under the umbrella of Thunor Trust. He then looted $200 from their coffers.
John M. Jordan, 44, of Nashville, said he helped Frankel and others get control of the insurers. He faces a maximum of 40 years in prison and $750,000 in fines, but is cooperating with prosecutors and under the terms of his plea could be called to testify in related cases. Jordan was one of four Frankel associates named in an indictment. The other three have pleaded not guilty.
Was this article valuable?
Here are more articles you may enjoy.
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model 
Business Interruption Claims Arising From the Middle East Conflict 
Marsh Aims to Be ‘AI Winner’ by Focusing on Gains in Growth, Productivity, Efficiency 
State Farm Agrees to $15M Settlement for Underpaid Vehicle Claims From This Issue
