Saturday, October 31, 2020

Former Insurance Commissioner Jim Beck facing more charges


Major new developments in the case against former Insurance Commissioner Jim Beck. Late Wednesday, a federal grand jury handed up a superseding indictment against Beck accusing him of five new charges.

Former Insurance Commissioner Jim Beck was already facing a tough legal challenge. Now, he faces new allegations – a total of 43 counts – he will have to defend.

In May, a federal grand jury indicted then Insurance Commissioner Jim Beck on 38 counts of mail fraud, wire fraud, and money laundering. The indictment alleges Beck set up a web of companies with friends and family to do business with an insurance company he was managing Georgia Underwriting Association or GUA.

Related: NY regulators probing NRA for illegal gun insurance kickbacks

Now, a second, superseding indictment, which replaces the first indictment. There is one new mail fraud charge. The indictment charges Beck used funds from the Georgia Arson Control Program, which is housed within GUA, the company he was managing, to buy $4,200 worth of campaign yard signs for his Insurance Commissioner race. About 1,500 of them.

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And there are four new charges related to the filing of false tax returns. The indictment claims Beck filed false documents when filing his taxes during four different years from 2015 through 2017. The indictment claims Beck overstated his expenses and substantially understated his business profits.

The FOX 5 I-Team tried to reach out of Beck’s attorney for a response to the breaking news. There was no response as of late Wednesday.

U.S. Attorney BJ Pak was not available for comment.

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