Man sentenced to prison for $3M life insurance scheme

COLUMBUS (AP) — A man accused of laundering nearly $3 million in a life insurance scheme involving a sick and obese relative has been sentenced in Columbus.

The Cincinnati Enquirer reports 55-year-old Mitch Stevenson, of Mason, received 43 months in federal prison Thursday and was ordered to pay $2.9 million in restitution. Stevenson, his wife, and adult daughter pleaded guilty last summer to a money-laundering conspiracy charge.

A message seeking comment was left with Stevenson’s attorney Friday.

Prosecutors say Stevenson bought life insurance policies on a relative he claimed was healthy, weighed 170 pounds and earned $133,000 a year. The relative was actually ill, weighed more than 400 pounds and was jobless. The family collected on the policies after the relative died.

Patricia Stevenson and daughter Candace received two years’ probation in December.


Information from: The Cincinnati Enquirer,