A former agent pleaded guilty to one count of federal wire fraud after an insurance department investigation showed that she had stolen more than $3.7 million from a premium finance company. The company filed a complaint with the department, claiming the agent had committed premium financing fraud on the company. She submitted fictitious loan applications which prompted the loan company to send funds to the agent. The finance agreement forms submitted to the company contained phony policy numbers and forged electronic signatures for fictitious insureds. The same two addresses were used for all of the phony policies. The money was used to buy extravagant items for the agent and her family. Since the loans are required to be repaid within a year, the agent used money from later fraudulent loans to pay off the earlier loans. Some of the funds have been repaid, but the agent currently owes $1.8 million to the company she swindled.