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Georgia Insurance Commissioner John W. Oxendine Announces Insurance Fraud Arrest

27 Feb, 2008 WorkersCompensation.com

                               

Atlanta, GA  (CompNewsNetwork) - Insurance Commissioner John W. Oxendine said an Augusta man has been charged with insurance fraud for allegedly converting to his own use money paid to him by an elderly client.

Carl Barcus, 58, was arrested today. Oxendine said Barcus 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.

Insurance fraud is a felony with a penalty of two to 10 years in prison and/or a fine of up to $10,000.

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