A man who went by the name of Steven Mayberry and claimed to be a licensed insurance agent in Arkansas, Louisiana and Missouri was lying on both counts, he admitted Friday to a federal judge.
Paul Alexander Robertson, who had represented himself as Mayberry and used the business names Prime Services and Brokerage Resources, both with a post office box address in Little Rock, pleaded guilty Friday to mail fraud.
In pleading guilty before U.S. District Judge James M. Moody Jr., Robertson acknowledged receiving more than $1.19 million in insurance premiums between August 2012 and May 2015 from clients to whom he sold nonexistent policies.
Although a court document indicates he paid some of the claims that clients filed, it notes, "Robertson was not licensed to sell, solicit or negotiate insurance in Arkansas, Louisiana or Missouri."
The document states that Robertson executed a scheme to defraud people by persuading licensed insurance agents in the three states that he was a licensed broker of insurance products on behalf of several insurance companies. It said he then obtained insurance forms from a former employer and through the Internet, and delivered them by mail and wire to clients in all three states, falsely presenting them as valid insurance policies issued by the companies he claimed to represent.
"Based on Robertson's false representations, clients paid insurance premiums, both directly and indirectly, to Robertson by mail and by wire for policies that did not exist," the court document states.
A plea agreement Robertson signed holds him responsible for $150,000 to $250,000 in losses, though it indicates the actual amount of loss is higher. It says he has agreed to pay $491,820.93 in restitution to more than 10 victims.
When sentenced at a later date, Robertson faces up to 20 years in prison and a fine of up to $250,000.
Metro on 08/20/2016