This is the first time IFED officers have had a successful conviction under the Bribery Act.
The fraudster has been given three months to pay money back or face jail.
Former employee had been sentenced in May to 10 months in prison for fraud.
Police say that since IFED was set up it has investigated 86 cases as it announces crackdown on ghost broking activity.
High profile cases show the need for better controls and importance of fidelity guarantee insurance
Supreme Court ruling could “make everybody’s job more difficult” warn claims experts
IFED confirms it is the first time it has charged suspects under the Bribery Act.
The ongoing suffering of SSP users dominated the market news for another week. The issue almost pulled off a clean sweep of the top 5 most read but readers were also interested in the broker who pleaded guilty to stealing £273,000 from his former firm.
Facebook photos were used as evidence at Wandsworth Crown Court.
Association highlights rise in dishonest liability insurance claims such as “slip and trip”.
Newspaper reports ex-broker will be sentenced on 26 September.
Criminal court cases led the way for reader interest this week coming in at top spot and third place respectively. Brokers were also introduced to new products, Zurich staff cuts and Towergate’s results.
Gurmukh Shehri was convicted of defrauding Biba of nearly £25,000 over three years.
Simon Higginson and Lee Willis were convicted of defrauding Willis of £1.7m over more than a decade.
London-based fraudster tried to make over £39,000 of personal injury claims.
Supreme Court decides insurers can use evidence emerging after a settlement to recover pay-outs.
Father sentenced to 100 hours of community service after lying about son's criminal convictions.
Accountant may be facing jail after case at Old Bailey for stealing money from Biba.
Customer manager in Scotland stole over £5,000.
Funding for three more years has been pledged by the ABI.
IFED will visit addresses targeted by fraudsters to get cheap motor insurance.
Former Simplyhealth employee pleads guilty to fraud by abuse of position following £31,500 commission scam.
This week's most read stories include fraud, an exit from Zurich and Brexit.
A Bolton man has been given a suspended six month sentence for attempting to use fake details to buy motor insurance.