Ex-Insurance Commissioner Sentenced To 7-Plus Years In Fed

ATLANTA — Georgia’s former State Insurance Commissioner could spend more than seven years in federal prison, authorities said.

Jim C. Beck was convicted in July of federal wire fraud, mail fraud, money laundering and tax fraud charges for stealing more than $2.5 million from the Georgia Underwriting Association before he became Insurance Commissioner, according to federal court records.

Tuesday, he was sentenced to seven years and three months in prison, and must serve three subsequent years on supervised release and repay more than $2.6 million, forfeit another $426,000 as well as two properties, authorities said.

“Former Commissioner Beck has been held accountable for taking advantage of his position of trust at the GUA, stealing millions of dollars from his employer, and then defrauding the IRS,” said Acting U.S. Attorney Kurt R. Erskine. “At the time he was charged with these offenses in 2019, he was the newly elected Georgia Insurance Commissioner. Thankfully, the FBI and IRS uncovered these crimes before Beck got the chance to do even more damage as a statewide public official.”

Between 2012 and 2019 when Beck served as General Operations Manager for the GUA, federal prosecutors said that Beck encouraged four friends and family members to form four separate businesses that were supposed to supply necessary services — property inspections and water damage mitigation — to the organization.

The GUA was created by Georgia law to provide high-risk insurance coverage to homeowners across the state and is funded through the collection of premiums and annual assessments to every property insurer in the state.

The 60-year-old Beck, of Carrollton, created fraudulent invoices and bogus documents to approve significant payments to the four companies without letting his associates know, prosecutors said. He also prepared phony invoices to his own companies GA Christian Coalition and Creative Consulting for services he never provided, according to the federal indictment.

Prosecutors also said Beck lied about his business expenses and profits on his taxes from 2014 to 2018.

“Beck abused his position as the General Manager of Operations for the GUA while engaging in a series of fraudulent transactions devised to siphon funds from a worthwhile organization. IRS Criminal Investigation is proud to have assisted our partners in unraveling the fraud actions undertaken by Beck for his personal benefit,” said James E. Dorsey, Special Agent in Charge of the IRS Criminal Investigation Atlanta Field Office. “Pooling the skills of each agency makes a formidable team as we investigate allegations of wrong-doing. This sentencing demonstrates our collective efforts to enforce the law and ensure public trust.”