Former Agent Arrested for Embezzlement in North Carolina
- March 23, 2018
Trenton woman charged with embezzling insurance premiums
RALEIGH, CA -- North Carolina Insurance Commissioner Mike Causey today announced the arrest of Billie Jo Kennedy, 47, of 1800 Chinquapin Chapel Road, Trenton. Kennedy was charged with one felony count of embezzlement by an insurance agent.
Kennedy is accused of embezzling approximately $18,209.20 in customer policy premiums and converting the money to her own use. According to the arrest warrant, the offense occurred in Lenoir County between Dec. 6, 2015, and Dec. 6, 2017. Kennedy was an insurance agent licensed by the N.C. Department of Insurance at the time of the offense.
Kennedy was arrested on March 5, 2018, in Lenoir County and placed under $15,000 unsecured bond.
Insurance fraud costs American consumers approximately $80 billion dollars a year. According to Commissioner Causey, fraud costs North Carolinians between 15 and 20 cents of every dollar paid on insurance premiums -- and it’s getting worse.
“I am determined to stem the tide of insurance fraud in this state in order to save residents money,” said Commissioner Causey. “That’s why I am dedicated to the mission of our NCDOI law enforcement officers who investigate and prosecute claims of insurance and bail bonding fraud.”