Devoted to the Insurance industry and all thing related

One of the longest prison sentences for an insurance scammer I’ve ever heard of was issued this past Monday.  The sentence against James Graf was for 25 years in prison stemming from a conviction “in November 2005 of charges including conspiracy, mail fraud and misappropriating the funds of the company he ran, Employers Mutual LLC” according to a CBS 2 article.

An amazing 20,000 people were duped “out of insurance premiums” and he also “left more than $20 million in unpaid medical claims.”  The amazing part of this whole scam is that it was not stopped sooner, before “$14 million in premiums was taken in and more than $3.3 million in premiums were misappropriated.”

Not only does he have to serve 25 years but also pay back “$20.5 million in restitution to the victims of the scam.”  I’m sure he saved all the money he took in and will be able to pay them back in no time.  My question for Graf is what was he thinking while he was purporting this sham?  Did he really believe no one would find out and that he would continue on into the future indefinitely?