Former 49er Wersching indicted for embezzlement
United States Attorney Kevin V. Ryan for the Northen District of California announced last week that Raimund Wersching, 55, of San Carlos, California, was charged in a six-count indictment with insurance fraud, tax evasion, and hiring a convicted felon to handle the insurance business at his agency, including the deposit and transfer of premium money. The indictment, which was returned by a grand jury on March 22, 2006, alleges that between 1997 and 2000, Mr. Wersching embezzled and misappropriated over $8 million in premiums that should have been paid to the Farmers Insurance Group of Companies. He is also charged with evading taxes on $3.6 million in corporate income for 1999 and 2000.
For those who don't follow football, Wersching was a kicker for 15 years in the NFL, including winning two Super Bowls with the San Francisco Forty-Niners. He tied the record for most field goals in a Super Bowl with four in Super Bowl XVI, when the Niners won 26-21 over the Bengals.
For news coverage of Wersching's indictment, see here.
For coverage of the indictment in the White Collar Crime Prof Blog, see here.