- Associated Press - Sunday, July 22, 2018

CHICAGO (AP) - A Chicago vice president of an insurance underwriting group is accused of pocketing more than $13.5 million from a corporate client by fraudulently issuing and collecting premium payments.

A statement from the U.S. attorney’s office in Chicago says that 54-year-old David Ballard is charged with one count of wire fraud. If the Chicago man is convicted, he faces a maximum sentence of 20 years in prison.

Filings allege the money was used on personal expenses, including expensive dinners and trips.

The statement did not name the companies and filings in court did not include the name of an attorney for Ballard. A date for his arraignment has not been set.


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