Two Women Sentenced for Stealing More Than $1 Million from the ING Company

Earlier today in federal court in St. Paul, two Minneapolis women were sentenced for stealing more than $1 million from the ING life insurance company. United States District Court Judge Susan Richard Nelson sentenced Angela Patrice Madison, age 42, to 35 months in federal prison on one count of aiding and abetting mail fraud; and Tracy Dione Jackson, age 42, was sentenced to 27 months in federal prison on the same charge. Madison also was ordered to pay $1,633,301 in restitution to ING, while Jackson was ordered to pay $1,112,717 to the company. Both women were charged on July 26, 2012.
In her plea agreement, which was filed on September 27, 2012, Madison admitted that from 2003 through March 6, 2012, she worked as a policy plan and service coordinator for ING. In that capacity, she handled, among other things, requests from ING clients to obtain loans and “surrender”—that is, cash in—their life insurance policies. Madison used ING’s computer system to generate false “surrenders” in the names of various individuals, including Jackson. The checks issued as a result of those surrenders were mailed to Jackson at various addresses across the state or intercepted by Madison and given to Jackson. Jackson then cashed the checks and split the proceeds with Madison. Through this scheme, the women stole approximately $1,633,301 from ING, the result of 196 fraudulent checks. Jackson pleaded guilty on August 28, 2012.
This case was the result of an investigation by the Federal Bureau of Investigation. It was prosecuted by Assistant U.S. Attorney Timothy C. Rank.