Iowa insurance agent gets 15 years in prison for defrauding clients
A federal judge went beyond the maximum sentencing guidelines in sending a former Iowa insurance agent to prison for 15 years for cheating his clients out of more than $1 million.
Jack Straw, 51, who ran Benefit Services Corp., with offices in Waterloo and Mason City, Iowa, received the sentence from U.S. District Court Judge Linda Reade Sept. 22, according to the Waterloo-Cedar Falls Courier.
Sentencing guidelines recommended between eight years and 10 years for wire and mail fraud and money laundering convicitons.
Straw pleaded guilty to seven charges in February after prosecutors said he withdrew clients’ funds, forged signatures on documents and sold land in South Dakota that belonged to one of his clients.
One of Straw’s clients said she invested money, as did her parents and son, who gave the former agent funds to hold for his children in the event he was killed while serving with the military in Iraq, according to the report.
Following his prison time, Straw will serve three years of supervised release. He must also pay a $700 court-ordered special assessment.
Restitution to his victims will be determined at a later date, according to the report.


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