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Former US military pleads guilty in life insurance scheme

A former US Army financial counselor accused of stealing millions of dollars from the life insurance funds of deceased soldiers pleads guilty and accepts a deal with prosecutors, The Washington Post reports.
Former US military pleads guilty in life insurance scheme

Federal investigators last year charged Caz Craffy, whose duties included providing financial guidance for Army families of fallen service members, with misuse of classified information.

Craffy simultaneously had a side job in an insurance broker company. In the US, insurance brokers help people choose the right insurer. He oversaw cumulative losses of $3.7 million stemming from shady trades that net him about $1.4 million in commissions.

Craffy was charged with 10 counts, including wire and securities fraud. His plea agreement calls for a prison term of eight to 10 years. The judge presiding over the case will determine his sentence in August along with the amount of restitution Craffy must pay to the US Army.

Source: https://www.washingtonpost.com/national-security/2024/04/16/army-life-insurance-scheme-caz-craffy/

Photos are from open sources.

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