Former Pa. Insurance Agent Sentenced for Fraud

October 12, 2007

A former Butler County, Pennsylvania insurance broker has been sentenced to 21 months in prison and ordered to pay back $288,000 that he misappropriated from clients.

David Giancola, of Cranberry, pleaded guilty in May to one count of mail fraud. Six other mail fraud counts were dropped.

Prosecutors say Giancola concealed the misappropriation by taking out loans in the names of some clients to pay the premiums. Authorities say 39 clients were affected.

Giancola was sentenced this week in U.S. District Court in Pittsburgh.

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