A former Chapmanville insurance agent who helped an arsonist obtain a fraudulent insurance policy after a February 2012 fire at a Logan office building has pleaded guilty to federal conspiracy charges.
William Jamey Thompson, 44, admitted to U.S. District Judge Thomas E. Johnston in Charleston that he'd conspired to commit mail fraud, wire fraud and aiding and abetting arson. He's scheduled for sentencing in March and faces a minimum of seven years in federal prison.
U.S. Attorney Booth Goodwin said the arson was orchestrated by Logan resident James Gregory Glick, 44.
Goodwin said Glick hatched the scheme to bilk an insurance company of more than $1 million in November 2011, arranging to have a third party purchase the building for $45,000 and then resell it to him in January 2012 for about $50,000 and paying Thompson roughly $50,000 to obtain a fraudulently-inflated $1 million insurance policy from General Star Indemnity Company.
Goodwin said three other men have been charged in connection with the actual arson.
Glick, meanwhile, pleaded guilty to arson and conspiracy to commit mail and wire fraud, along with conducting unlawful monetary transactions and structuring currency transactions in connection with the scheme.
"Structuring" involves breaking down cash transactions into amounts of $10,000 or less for the purpose of avoiding a financial institution's reporting requirements to the Internal Revenue Service (IRS).
Goodwin said Glick on more than nine occasions structured illegal transactions from the Logan Bank & Trust. He faces a minimum of seven years in prison when he is sentenced in February by U.S. District Judge Thomas E. Johnston.
The IRS, West Virginia State Police and the West Virginia Insurance Commission conducted the investigation. Assistant U.S. Attorney Thomas Ryan is in charge of the prosecution.