PROVIDENCE, R.I. (AP) — A Rhode Island insurance agent who specializes in insuring horses has been sentenced to three years in prison for defrauding clients, insurance companies and finance companies out of $1.3 million.
Federal prosecutors say 57-year-old Randall Levesque, of Middletown, was also sentenced Monday to two years’ probation and ordered to pay restitution.
Levesque pleaded guilty in December to wire fraud.
Authorities say Levesque, owner of Equine Insurance Services LLC, overbilled and double-billed customers’ credit cards for premiums due on policies, some of which the client did not request or did not agree to finance, sometimes forging clients’ signatures.
He also collected premiums from customers but did not forward the payments to the insurance companies, and fraudulently obtained more than $500,000 in financed premiums from at least two finance companies.