Ga. Man Arrested for Insurance Fraud

February 6, 2008

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

Was this article valuable?

Here are more articles you may enjoy.