A UK broker has been sentenced to five years in prison after police found he diverted more than £133,000 ($269,700) into his personal bank account.

The Insurance Fraud Enforcement Department (IFED) says Leon Price of Sittingbourne in Kent falsified documents and misdirected payments, deceiving customers and insurers and leaving victims uninsured.

The 45-year-old was sentenced at a London court last Thursday to five years and three months in jail.  

Police say fraud was discovered after Allianz business LV= General Insurance examined a policy incepted by Price.

The insurer found a motor policy had been registered using the same address as a customer who held home cover. It investigated further and the customer confirmed they did not own the Peugeot 308 listed, and had never taken out such a policy.

“Thanks to the vigilance of insurers and the co-operation between industry partners, IFED was able to uncover the scale of Price’s offending and bring him to justice,” Detective Oliver Gent said. “This case highlights the importance of partnership working and intelligence sharing in tackling fraud.”

Police say the offending included offering commercial insurance to businesses but producing fraudulent documents and diverting payments into a personal account, and impersonating policyholders in false claims that insureds were unaware had been made.

One high-value insurance provider identified six fraudulent claims linked to Price’s accounts, including for water damage, stolen bikes, hearing aids and ceiling damage.

A family-owned business paid more than £18,000 ($36,500) across several years, mistakenly believing it had valid cover after the broker provided false certificates on headed paper.

Police said Price answered “no comment” to all questions during an interview. 

IFED will pursue confiscation proceedings, with funds directed to compensate victims.

Allianz head of financial crime intelligence and investigations Matt Crabtree says insurance fraud is a serious problem, and he welcomes the discovery of Price’s “wide-ranging and prolonged frauds”.

“While these cases may be rare, we work hard to ensure those behind insider frauds who are abusing their positions are brought to justice, and we’re pleased with the result,” he said.