An Orange County, Calif., man has been sentenced to 10 years in state prison for selling phony workers’ compensation insurance. Authorities say he used the millions he received to support a lavish lifestyle.
Fifty-one-year-old Mitchell Zogob of San Juan Capistrano was sentenced this week after pleading guilty to 23 felony counts that include grand theft, fraud and forgery.
Prosecutors say that from 2002 to 2004, the former Newport Beach insurance broker took $4.6 million in premiums and issued insurance certificates to several companies with tens of thousands of employees.
But he never obtained insurance for them.
Authorities are still trying to determine how much money the companies paid out to cover worker claims.
Was this article valuable?
Here are more articles you may enjoy.
LA Fires Push Insurers’ 2025 Disaster Losses to $107 Billion
Insurance AI Demo Day Calendar Announced
Poorer Americans Dropped Federal Flood Insurance When Rates Rose
Apollo Expands Asset-Level Risk Reviews to Reflect Impact of Extreme Weather