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May 17, 2013 8:50 AM by AP/CS

Former insurance agent gets 5 years in fraud case

BATON ROUGE, La. (AP) - A 35-year-old Denham Springs man has been sentenced in Baton Rouge federal court to nearly five years in prison and ordered to pay two life insurance companies more than $1.4 million for frauds he committed against them.

The Advocate reports Timothy R. Schlatre must report to prison on June 24 to begin serving his 57-month sentence for one count each of mail fraud and money laundering.

Six other Livingston Parish residents pleaded guilty in the case earlier.

Schlatre was identified by Assistant U.S. Attorney Rene I. Salomon as the organizer of the scheme that bilked New York Life and Lincoln Financial of a combined total in excess of $1.4 million. Schlatre was an insurance agent for both firms.

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