HOUSTON (AP) — A former Houston-area insurance agent has been sentenced to 12 years in prison in a fraud case related to premiums and real estate.
The Texas Department of Insurance on Wednesday announced the penalty for Leslie Ray Collins of Sugar Land.
Regulators say Collins, whose insurance license was revoked in 2009, was convicted of misapplication of fiduciary property. He also was ordered to make more than $162,000 in restitution.
Investigators say Collins collected money from a premium finance company to buy insurance but instead used the cash to fund a commercial real estate scam.
Authorities say investors lost several million dollars.
