Former 49er allegedly embezzled millions in insurance premiums
By Hubert Vigilla
Published on March 23, 2006
Wersching is the owner of the Redwood City, California-based Ray Wersching Insurance Agency. Wersching allegedly misappropriated premiums that were to have been paid to the Farmers Insurance Group from 1997 to 2000. The six-count indictment also charged Wersching with tax evasion in 1999 and 2000 for approximately $3.6 million in corporate income.
Mary Ann Locke, former co-owner of the company, was similarly indicted on embezzlement charges in August of last year.
John Garamendi, state insurance commissioner, stated that Wersching's indictment sends a clear message that, "In California, no one -- whether an average citizen or a former football star -- will escape prosecution if they are suspected of insurance fraud."
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