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DENVER—The rural health brokerage owner in Colorado has been ordered to pay $3.5 million in restitution to clients whose money was mishandled.
A federal judge also sentenced Gerald Rising Jr. on Friday to five years and six months in prison, followed by three years on supervised release. Rising pleaded guilty in October to mail fraud, embezzling plan funds and money laundering.
A plea agreement says that as owner of Rural Health Plans Initiative Administration Co., Rising sold health care benefit plans to school districts and others in Colorado, Kansas and Oklahoma.
Rising was accused of improperly mixing trust funds from various clients to pay claims, falsely saying claims were paid, and of kiting checks.
