Posted by Reid Kerr - email
MARSHALL, TX (KLTV) - A forty-seven year-old Pittsburgh man has been sentenced to federal prison for mail fraud.
Paul Banks pleaded guilty in May for a scheme involving insuring horses far beyond their actual value and submitting insurance claims after their deaths. In one instance, Banks insured a horse claiming he had paid twenty thousand dollars for it, which was false.
Banks was sentenced to twenty-one months in federal prison, and ordered to pay restitution in the amount of $217,500.