A neighborhood gentleman accused of mishandlingcustomers’ insurance quality payments could serve just one yr of a 10-12 months sentence driving bars if a decide accepts a plea settlement.
Garrett S. Williams, 48, pleaded guilty Friday in Allen Superior Courtroom to corrupt organization affect and unlawful sale of a security, equally felonies.
Williams was billed in December 2019 with 12 counts, including 6 counts of securities fraud, two counts of forgery, just one count of promoting unregistered securities and an additional count of corrupt business affect.
If a judge accepts a plea arrangement, Williams would get a 10-yr sentence with all but one year suspended. 10 of the 12 prices he confronted would also be dismissed.
The plea deal, however, calls for Williams to pay back restitution to victims in 9 of the counts that have been dropped. The volume of restitution will be identified for the duration of his April 16 sentencing based on statements offered to Williams’ attorney.
Williams owned and operated GSW and Associates Inc. From June 1, 2015, by way of Feb. 19, 2016, he was an Allstate special agent with the authority to get ready insurance coverage apps for potential shoppers and acknowledge insurance coverage premium payments by dollars, checks or credit score card payments, courtroom documents explained.
When accepting customers’ coverage premium payments, he did not deposit the money into his agent route banking account so that Allstate could withdraw the funds owed to the organization, court data stated.
Shoppers, some of whom have been about 60 decades previous, tried to achieve Williams regarding their accounts but were not able to, they advised investigators.
The Indiana Securities Division Workplace of the Secretary of Condition said Williams was not registered, nor was there any document of an application for registration or any exemption from registration requirements underneath the name GSW and Associates, according to court docket records.