Brown & Brown, Inc. today announced today that it has terminated with immediate effect the previously announced agreement to acquire the assets of Hauser, following news that founder Mark Hauser was pleading guilty in connection with the Varsity Blues scandal. The transaction was expected to close in September 2020, subject to certain closing conditions.
The U.S. Attorney’s Office in Boston announced on Friday that Mr. Hauser, 50, would plead guilty to one count of conspiracy to commit mail fraud and honest services mail fraud in connection with paying $40,000 to facilitate cheating on his daughter’s ACT exam.
Brown & Brown, Inc. is a leading insurance brokerage firm, providing risk management solutions to individuals and businesses. With Brown & Brown’s 80 years of proven success and thousands of teammates, we offer knowledge you can trust and strive to deliver superior customer service. For more information, please visit bbinsurance.com.