Inheritance Reimbursed To Defrauded Brothers

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An insurance official says the two children whose inheritance was allegedly embezzled by a Montgomery insurance broker have been reimbursed.

The U.S. Attorney’s office says Thomas E. Smith, Jr., has pleaded guilty to two fraud counts.

The former State Farm Mutual Insurance Company employee is accused of embezzling $275-thousand dollars from money market accounts he had opened for two brothers. The boys inherited the money from an aunt.

A State Farm official told the Burlington Free Press that the company has reimbursed the two boys.

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