Insurance Commissioner Mike Causey today announced the arrest of Kenneth Earl Craft, Jr., 47, of 1089 Edwards Fork Road, Scotland Neck; he is charged with two counts each of fraud and obtaining property by false pretense and an agent acting without a license.
Department of Insurance criminal investigators accuse Craft of presenting himself as a licensed agent in order to get multiple consumers to purchase life insurance policies in excess of $7,000 between September 2010 and March 2017. Investigators allege Craft never submitted the payments he received and kept them for his personal use.
Craft was arrested on June 27 in Martin County and was released under a promise to appear in court.
"According to the FBI, insurance fraud costs the average family between $400 and $700 per year in the form of increased premiums,” said Commissioner Causey. “Consumer protection is my number one priority and I will continue to fight insurance fraud with your help.”
The Department of Insurance employs 20 sworn state law enforcement officers dedicated to investigating and prosecuting claims of insurance and bail bonding fraud. To report suspected fraud, contact the Department of Insurance Criminal Investigations Division at 919-807-6840. Callers may remain anonymous. Information is also available at www.ncdoi.com.
Insurance Commissioner Mike Causey today announced the arrest of Kenneth Earl Craft, Jr., 47, of 1089 Edwards Fork Road, Scotland Neck; he is charged with two counts each of fraud and obtaining property by false pretense and an agent acting without a license.
Department of Insurance criminal investigators accuse Craft of presenting himself as a licensed agent in order to get multiple consumers to purchase life insurance policies in excess of $7,000 between September 2010 and March 2017. Investigators allege Craft never submitted the payments he received and kept them for his personal use.
Craft was arrested on June 27 in Martin County and was released under a promise to appear in court.
"According to the FBI, insurance fraud costs the average family between $400 and $700 per year in the form of increased premiums,” said Commissioner Causey. “Consumer protection is my number one priority and I will continue to fight insurance fraud with your help.”
The Department of Insurance employs 20 sworn state law enforcement officers dedicated to investigating and prosecuting claims of insurance and bail bonding fraud. To report suspected fraud, contact the Department of Insurance Criminal Investigations Division at 919-807-6840. Callers may remain anonymous. Information is also available at www.ncdoi.gov/fraud-control.