Convicted former Georgia commissioner must forfeit $2.1M

Former Georgia Insurance Commissioner Jim C. Beck, who was sentenced to more than seven years in prison following his conviction for embezzling from his former employer, the Georgia Underwriting Association, must forfeit $2.1 million, the federal district court in Atlanta has ruled.

The court’s final order on the forfeiture was issued Tuesday in United States of America v. Jim C. Beck.

Mr. Beck was convicted in July by a federal jury of embezzling the funds when he worked as a general manager of operations for the Suwanee, Georgia-based Georgia Underwriting Association, which provides high-risk property insurance to Georgia homeowners.

He was charged with talking four associates into forming four separate businesses that supposedly supplied necessary services, including property inspections and water damage mitigation, to the association.

Mr. Beck was sentenced by the court in October to seven years, three months in prison to be followed by three years of supervised release.

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