HOUSTON (May 15, 2013)--Former Houston-area insurance agent Leslie Ray Collins has been sentenced to 12 years in prison after his conviction in a fraud case related to premiums and real estate, the e Texas Department of Insurance announced Wednesday.
Collins, of Sugar Land, whose insurance license was revoked in 2009, was convicted of misapplication of fiduciary property, regulators said.
He also was ordered to make more than $162,000 in restitution.
Investigators say Collins collected money from a premium finance company to buy insurance but instead used the cash to fund a commercial real estate scam.
Authorities say investors lost several million dollars.