July 7, 2005
BROKER CONVICTED OF MISAPPROPRIATION
Attorney General J. Joseph Curran, Jr., announced today that
Roger S. Ney, 50, of McLean, Virginia was convicted of
by a fiduciary. Ney pled guilty to a six (6) count criminal
information filed in the Circuit Court for Montgomery County.
According to the Statement of Facts presented to the Honorable
D. Warren Donohoe, between January 1, 2002 and March 31, 2003,
Ney misappropriated $139,308.70 from sixteen (16) different van
pool businesses across the United States by adding fees to premiums
set by the insurer, Lancer Insurance Company of New York State.
Ney operated various insurance businesses in Montgomery County,
Maryland. Ney illegally added fees to premiums set by Lancer
to make up for lost commissions caused when Ney had to switch
from Kemper to Lancer. Kemper paid 20% in commissions and Lancer
paid only 10%. Lancer discovered that Ney was adding improper
fees when they discovered that Ney had altered policy declaration
(called “dec sheets”) to reflect the fee amount.
Judge Donohue sentenced Ney to one year in the Montgomery County
Detention Center, suspended the sentence and placed Ney on two
years supervised probation.
The charges and conviction followed a joint investigation conducted
by the Insurance Fraud Division of the Maryland Insurance Administration
the Maryland State Police and the Office of the Attorney General.