Former Idaho Insurance Agent Gets Suspended Sentence

February 6, 2013

A former Farmers Insurance agent from Meridian was sentenced to up to five years in prison after he pleaded guilty to diverting more than $3,700 in premium payments for his personal use.

Fourth District Judge Thomas Neville suspended the prison sentence and placed 44-year-old Raymond R. Rice in retained jurisdiction for up to a year. He will be evaluated in an Idaho Department of Correction facility before Neville decides if Rice will serve the prison sentence or be placed on probation.

The court will set Rice’s restitution at a later date.

Rice pleaded guilty on Dec. 17 to two counts of misappropriation or diversion of fiduciary funds for premiums taken between August and November of 2011.

The Idaho Department of Insurance revoked Rice’s license in May.

Was this article valuable?

Here are more articles you may enjoy.