TRENTON, N.J. (AP) - The former owner of a third-party insurance administration agency is headed to prison for stealing nearly $500,000 from a trust fund that administered health insurance policies and prescription coverage.
Prosecutors say 48-year-old Catarina Young of Metuchen received seven-year sentence. She was convicted of theft and misapplication of entrusted property.
Young was the partial owner of the now-defunct firm that administered insurance plans on behalf of third parties.
Prosecutors say that between November 2003, and December 2006, Young deposited 86 checks and 16 wire transfers totaling $462,341 into her personal bank accounts, then used the money for her own purposes.
The money was supposed to be used to buy health insurance and prescription coverage. The theft resulted in the cancellation of a health insurance plan that insured hundreds of people.
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Rain arrives for the second half of the work week. Another fall-like blast of cool weather to follow for the weekend.
Scattered showers are possible tonight as a cold front approaches the area. Otherwise, the best chance for rain will be Thursday afternoon and night where we'll see on and off showers and thunderstorms.
Clouds and showers linger though much of Friday. We may still see a passing shower Saturday. Unseasonably cool air returns this weekend where both days only see high temps in the mid 70s with many of us falling into the 50s at night.