Oklahoma business briefs for Nov. 8

Oklahoma business briefs for Nov. 8
Modified: November 7, 2012 at 9:25 pm •  Published: November 8, 2012
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OKLAHOMA BRIEFS

Chamber announces new officers

Peter B. Delaney, chief executive officer of OGE Energy Corp., has been elected chairman of the Greater Oklahoma City Chamber. Other officers for 2013 include Carl Edwards, Price Edwards & Co., immediate past chair; David A. Jackson, JPMorganChase Bank, N.A., treasurer; and Bruce Lawrence, Integris Health, corporate secretary. “Our board is the backbone of the Chamber, and it is made up of Oklahoma City's biggest supporters,” said Roy H. Williams, president and CEO of the Chamber. “Under their leadership, we will work for the continued success of the Greater Oklahoma City region.”

Ex-insurance agent is sentenced

A former insurance agent was sentenced to two years in prison after pleading guilty to a felony count of exploitation of the elderly in Wagoner County, authorities said. Marshall Virden staged investment seminars across the state, where he would persuade participants to cash in life insurance and annuity products in exchange for precious metals, prosecutors said. Victims later learned that their investments were fraudulent and that Virden had fled the state, the state Insurance Department said. Insurance Commissioner John D. Doak said Virden faces charges in two other counties. “We believe there are more victims who haven't come forward,” Doak said. Potential victims can call the Insurance Department's Anti-Fraud Unit at 521-6614.

Ex-car dealer pleads guilty

A former used car dealer pleaded guilty Wednesday in federal district court in Oklahoma City to making a false statement to a credit union. John B. Langley, 62, of Harrah, was accused of pledging vehicles as collateral for loans from more than one lender, authorities said. The indictment also alleged that Langley defrauded Municipal Employees Credit Union by selling collateralized vehicles and failing to give the proceeds to the credit union to satisfy his loans. Langley in 2008 and 2009 owned J&K Langley Corp., which sold used cars in Oklahoma City under the name Bargain Network Auto Sales. In a plea agreement, he agreed to pay $200,806 in restitution to the credit union, and $75,410 to another lender, Floorplan Xpress. He faces a potential penalty of 30 years in prison and a fine of $1 million, the U.S. attorney's office said. Sentencing will take place in about 90 days.



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