January 22, 2003

 

Former Insurance Company
President Convicted of Embezzlement

 

WYTHEVILLE, VA – The former president of the Smyth County Mutual Insurance Company will spend 120 days in jail for embezzling thousands of dollars from the Southwest Virginia business. William Harold Green, 44, formerly of Marion, Va., pled guilty this month to 12 misdemeanor counts of embezzlement.

From 1995 to 1999, Green stole approximately $40,616 from the insurance company. He used the money to buy extravagant personal items, gifts for his family and friends, and to open his own insurance agency in neighboring Wythe County.

Even though Green repaid the company the majority of the money taken, he was still charged with 12 felony counts of embezzlement. For each guilty plea, he was sentenced to 12 months in jail. The judge suspended all but 10 days of each consecutive sentence.

The Virginia State Police Insurance Fraud Division, the State Corporation Commission’s Bureau of Insurance and Smyth County Commonwealth’s Attorney Roy F. Evans, Jr., were involved in the yearlong investigation. Green’s insurance license has been suspended.

The Virginia State Police is committed to "Stamp Out" insurance fraud occurring in the Commonwealth. To report suspected fraud call toll-free 1-877-62FRAUD (1-877-623-7283).