 Welcome back to AIM Newsweek, your go-to source for everything insurance. I'm Agent Ivory, bringing you the hottest celebrity insurance news. Please like, share, and subscribe to the channel. Also join us live each Friday at noon CST for our coverage over coffee podcast. After over 17 hours of deliberations, the jury in the trial of the son of Robbie Montgomery, reality TV star and owner of Sweetie Pie's restaurant, who was charged with commissioning a murder for hire plot that killed his teenage nephew in 2016, issued a guilty verdict. James Timothy Norman, 41, was found guilty on all charges, including conspiracy to commit murder for hire, murder for hire resulting in death and conspiracy to commit mail and wire fraud, according to the U.S. Attorney's Office Eastern District of Missouri. According to the criminal complaint against Norman, he had conspired with an exotic dancer residing in Memphis, Tennessee, and others to use a facility of interstate commerce, namely a cellular telephone to commit a murder for hire in exchange for United States currency. Mr. Norman's crimes were motivated by greed, and while the evidence was voluminous and overwhelming, Mr. Norman's plan was relatively straightforward. He fraudulently obtained life insurance in the amount of $450,000 on his nephew, Andre Montgomery. Without Mr. Montgomery's knowledge, he then used a paramour to locate Mr. Montgomery and a co-defendant to fatally shoot and kill him. Within days of his nephew's murder, Mr. Norman started the process of getting the life insurance company to pay the claim. U.S. Attorney Sailor Fleming said following the verdict, Norman's sentencing is currently set for December 15th. At this time, he is looking at a statutory penalty range of up to life imprisonment, Fleming said. So what is life insurance fraud? Life insurance fraud occurs when an insured policyholder or beneficiary is deceitful or falsifies information to benefit from a life insurance policy. Life insurance fraud can range from intentionally withholding or misrepresenting information to full-blown life insurance scams, including, but not limited to, policies on fake individuals, impersonating a proposed insured or applicant, and even intent to murder the insured to profit from their life insurance policy. Did you know? Life insurance fraud is estimated to cost as much as $10 billion to $20 billion a year, according to the Reinsurance Group of America. A survey of professionals in the life insurance industry estimated that 1% to 3% of all life insurance claims are either investigated for fraud or misrepresentation or are denied outright. The FBI estimates insurance fraud costs the average American household $400 to $700 and higher premiums every year. Very sad that this tragedy has happened to this beautiful family, but I would like to end on a positive note. I had the lovely opportunity to visit the Jackson restaurant location. Excellent food and service. I highly recommend visiting if you want some mouth-watering soul food. It looks like their upper-crest location is closing until further notice due to the $400 million Cochrane Veterans Hospital expansion. They thank everyone for visiting and hope to serve again in a near future. Let us know what you think about this insurance fraud situation in the comment section below.