COLUMBUS – Ohio Lieutenant Governor and Insurance Director Mary Taylor announced that former life insurance agent Russell Lowery, of Olmsted Falls, was sentenced in Cuyahoga County Common Plea Court to two years of probation for theft and insurance fraud and ordered to pay $7,714.31 in restitution to the insurance company. His license has been revoked by the Department.
“Insurance fraud is not a victimless crime as it increases the cost of insurance,” Taylor said. “Those who choose to break the law will pay the price for their irresponsible actions.”
A Department investigation determined that Lowery filed 69 bogus life policy applications in 2009 and received advanced commissions from the insurance company in which the policies were written.
If you believe someone may be committing insurance fraud, the Department urges people to call its fraud hotline at 1-800-686-1527. Insurance fraud information is available at www.insurance.ohio.gov.