A South Carolina man was sentenced to two years in prison on Thursday for using a scheme to dupe mortgage companies and homeowners in Eastern Kentucky, according to the U.S. Attorney's Office in London.
Financial service worker David C. Thomas, 68, of Greenville, S.C., admitted he falsely portrayed himself as an agent of insurance provider Lloyd's of London to mortgage company offices in Pikeville, Hazard, Paintsville, Corbin and Richmond.
Thomas admitted he pocketed insurance premium checks issued by mortgage companies to cover their clients' first year's worth of homeowner's insurance. The mortgage companies offered the insurance as a benefit to customers.
Thomas also admitted he issued bogus certificates indicating that homeowner insurance had been secured by Lloyd's.
Thomas, who was indicted in February 2008, worked at North American Financial Services Inc. in South Carolina but was never an authorized representative of Lloyd's of London, according to authorities.