Ga. Man Arrested for Insurance Fraud
An Augusta, Ga., man is charged with insurance fraud for allegedly converting to his own use money paid to him by an elderly client, according to Insurance Commissioner John W. Oxendine.
Carl Barcus, 58, arrested on Jan. 31, was not a licensed insurance agent when he allegedly took the life insurance premium money. Though formerly an agent, his license was not renewed after 2004.
His employment with Atlanta Financial Group Inc. was terminated that year.
“Our investigation reveals that this suspect took checks from an individual who was more than 90 years old,” Oxendine said. “This elderly man thought the money was going toward 11 policies for various members of his family.”
The checks, written between October 2003 and July 2006, totaled $5850.
Source: Georgia insurance Commission
- Marijuana’s Move to Schedule III: What it Really Means for Cannabis Insurance
- Trump Sues BBC for $10 Billion Over Documentary Edit
- Abbott Presses Congress for Shield Over Preemie Baby Formula Litigation That Could Cost It Billions
- LA Fires Push Insurers’ 2025 Disaster Losses to $107 Billion