North Carolina Insurance Agent Arrested on Embezzlement Charges

December 29, 2008

North Carolina Insurance Commissioner Jim Long reported that Kenneth Rick Morrow of Marion, a licensed insurance agent, was arrested last week and charged with nine counts of embezzlement, nine counts of obtaining property by false pretense, and eight counts of common law forgery.

He was processed at the Marion Police Department and released under a written promise to appear, according to officials.

Insurance department investigators allege that Morrow had been selling insurance policies to clients but failing to remit the premiums to the insurance companies, N.C. Farm Bureau and Southern Farm Bureau Life.

The Marion Police Department received a complaint from one of Morrow’s clients and turned the case over to the department for further investigation. N.C. Farm Bureau’s Special Investigations division worked with the department on the investigation.

Individual policyholders affected by this case have had their policies reinstated by both N.C. Farm Bureau and Southern Farm Bureau Life.

Source: North Carolina Department of Insurance

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