Agent Sentenced to 5 Years in Federal Prison

A South Shore, Ky., insurance agent was sentenced to five years in federal prison and ordered to repay nearly $400,000 in clients' money, the Kentucky Department of Insurance (KDI) said.Regulators said Robert W. Rister, 40, pleaded guilty in May to charges that he set up accounts and purchased annuities for his clients and then convinced those clients to close the accounts and reinvest the funds.KDI said Rister then either kept the money or reinvested it following months of delays. He then either diverted the money to personal use or used it pay other client obligations.In all, KDI said, R...