North Carolina Insurance Agent Arrested For Embezzling $18,000 in Premiums

A North Carolina insurance agent has been arrested and charged with embezzling more than $18,000 in insurance premiums, according to a statement from North Carolina Insurance Commissioner Mike Causey.

Billie Jo Kennedy, 47, of Trenton, N.C., was arrest earlier this month charged with one felony count of embezzlement by an insurance agent.

She is accused of embezzling approximately $18,209 in customer policy premiums and converting the money to her own use.

According to the arrest warrant, the offense occurred in Lenoir County between Dec. 6, 2015, and Dec. 6, 2017.

Kennedy was an insurance agent licensed by the N.C. Department of Insurance at the time of the offense.

Kennedy was arrested on March 5, 2018, in Lenoir County and placed under $15,000 unsecured bond.

Insurance fraud costs American consumers approximately $80 billion dollars a year.

According to Causey, fraud costs North Carolinians between 15 and 20 cents of every dollar paid on insurance premiums — and it’s getting worse.

“I am determined to stem the tide of insurance fraud in this state in order to save residents money,” said Commissioner Causey.

“That’s why I am dedicated to the mission of our NCDOI law enforcement officers who investigate and prosecute claims of insurance and bail bonding fraud.”

To report suspected fraud, contact the N.C. Department of Insurance Criminal Investigation Division at 919-807-6840. Callers may remain anonymous.

Source: North Carolina Department of Insurance