February 6, 2020
Premium Finance/Agent Fraud – Washington
$2.8 million
A Washington man was charged with first-degree theft after fraudulently obtaining twenty-four insurance premium finance loans totaling $2.8 million from a premium finance company. The agent obtained loans using fake trucking companies for commercial policies that did not exist, as well as obtaining a loan for a former client without permission. The fraudulent loans were accumulated between 2016 and 2018. So far $1.8 million has been repaid with interest, with a remaining balance of $898,662 not including interest and fees. The agent's license was revoked in September 2019.

