Insurance & Regulatory Update: Minnesota's Department of Commerce in the News


Although the Minnesota Department of Commerce's windows are shuttered (hopefully not too much longer) while the Governor and the Republican-controlled Legislature continue to butt heads while working to hammer out a budget deal for the next biennium, it doesn't mean that the Minnesota Department of Commerce and its regulation of insurance has not been in the news.

The first mention was the successful conclusion to a case that has been in the works for a number of years. On Wednesday, Trent Jonas, the co-owner of a couple of Twin Cities title insurance agencies (Title Source and Zen Title), was sentenced to two years in federal prison for committing $5.3 million in fraud relating to real estate and title insurance transactions. Jonas was also order to pay Ticor Title Insurance (a subsidiary of Fidelity National Title Group) $4.1 million in restitution.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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