VIRGINIA BEACH, Va. - A Virginia Beach man will serve more than 2 years in prison for defrauding life insurance companies.
According to a release from the United States Attorney's Office for the Eastern District of Virginia, Michael Leonard Morgan-Towe, 37, was sentenced to 27 months in prison after he and a co-conspirator, 33-year-old Antionette D. Pringle, obtained approximately $150,000 in fraudulent advance commissions from life insurance companies in 2018.
Court documents say Morgan-Towe recruited people in need, falsely promising them months of "free" life insurance if they provided their personal identifying information. Pringle, a licensed insurance agent in Virginia, then used this information to submit applications for life insurance, falsifying their incomes to make it appear as if they could pay the monthly premiums.
In some instances, Pringle misstated people's health conditions to ensure their applications would be approved.
The life insurance companies sent Pringle thousands of dollars in advance commissions as soon as the applications were approved. She then shared the money with Morgan-Towe.
However, almost all of the policies lapsed immediately because no premiums were paid, as the individual beneficiaries thought they were obtaining free life insurance.
In December 2020, Pringle was sentenced to 4 years in prison for her role in the scheme.