WCAX.COM Local Vermont News, Weather and Sports-Poughkeepsie man sentenced to prison for insurance scheme
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Associated Press - March 26, 2009 3:15 AM ET
ALBANY, N.Y. (AP) - An upstate man is heading to federal prison for a year and must pay over $130,000 in restitution for selling phony health insurance.
Jeffrey Seifts was charged with victimizing 240 people in Dutchess, Ulster and Columbia counties. The 51-year-old Poughkeepsie resident pleaded guilty in October to theft from a health benefit plan. His corporation -- JC Seifts and Company -- pleaded guilty to mail fraud.
Seifts sold insurance to retirees, small business owners and other through the small group health plan he supposedly operated under the name of a fictitious company. He collected but failed to remit premiums to MVP. He also overcharged customers and falsified information on insurance applications.
Seifts was arrested in 2007 following a state investigation. His insurance agent's license was revoked in June 2005.
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