HOUSTON – May 15, 2013 – (RealEstateRama) — The Harris County 338th District Court has convicted Leslie Ray Collins of Sugar Land of a first-degree felony of misapplication of fiduciary property over the value of $200,000 and sentenced Collins to serve 12 years in prison.
The court also ordered Collins to pay $162,424 in restitution in the case initiated by a complaint to the Texas Department of Insurance Fraud Unit. The TDI Fraud Unit and the Harris County District Attorney’s Office investigated the complaint. TDI Fraud Prosecutor Jesse McClure prosecuted the case.
Investigators found that Collins, a former insurance agent, collected funds from a premium finance company to buy insurance but instead used the money to fund a commercial real estate scam that ended in the loss of several million dollars to investors. TDI revoked Collins’ insurance agent license in 2009.
Contact: MediaRelations (at) tdi.texas (dot) gov