5 Year sentence for insurance manager
By Georgina Wilcox
David Keith Self (53), former manager and owner of Monkton Insurance, was handed down a five year sentence on December 24th, 2012 by Justice Alex Henderson for the theft of around US$1 million from clients who used his services.
Self pleaded guilty to stealing money from his clients when Monkton Insurance got into financial difficulties.
Self stole Canadian $717,388.70 belonging to Warco Insurance Company, one of Monkton’s clients, between 12th January, 2011, and 29 December, 2011.
He also admitted to stealing US$125,000, also belonging to Warco, between 9th May, 2011, and 24th January, 2012.
The third charge he pleaded guilty to was possession of criminal property of funds of US$675,000, again from Warco.
In the original indictment Self was charged with 18 counts of theft and fraud but after negotiations with the crown it was changed to three with the charges rolled together.
Self was arrested in February 2012, and Monkton Insurance was found to be “hopelessly insolvent” by liquidators who filed a petition to wind up the business as a result of Self’s fraud.
Justice Henderson, in handing down the five year sentence said he gave Self a full discount as a result of his complete cooperation with the authorities from the beginning and his obvious remorse. It was disclosed Self had handed over his entire assets, including his home, to the liquidators.
Self had no previous convictions.
The time Self had already spent in jail would be taken into account, the judge confirmed.
