A Sacramento, Calif., insurance agent pleaded guilty to 13 felony counts of grand theft in connection with a five-year Ponzi scheme resulting in a total loss of $6.3 million.
A Sacramento, Calif., life insurance agent was recently arrested as the alleged mastermind behind a multi-million dollar Ponzi scheme to furnish his lavish lifestyle.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.