Ex-Georgia Insurance Commissioner Jim Beck was convicted Thursday, on Fraud and Money Laundering charges, in a scheme against an insurer that he managed. Jurors returned a guilty verdict on all 37 counts against Beck in the federal trial in Atlanta.
According to news reports, Beck was accused of stealing more than $2.5 million from the state-chartered Georgia Underwriting Association (GUA) – by funneling money to himself through a series of companies – he was indicted just several months after he took office in 2019 as Insurance Commissioner. He had managed GUA for a number of years prior to taking office.
Beck, who is scheduled to be sentenced sometime in October, is confined to his home in Carrollton, while awaiting court appearances and sentencing.