Licensed Insurance Agent Indicted and Charged of Wire Fraud
- December 31, 2018
Licensed Insurance Agent, Indicted and Charged With Three Counts of Wire Fraud
FRANKFORT, KY -- Following an investigation conducted by the Federal Bureau of Investigation and the Kentucky Department of Insurance, Jerry Wayne Simpson of Madisonville, Ky., formerly a licensed agent for Thrivent Investment Management Inc., was indicted on December 12 on three counts of wire fraud in the United States District Court for the Western District of Kentucky.
Simpson is accused of knowingly causing Thrivent to wire a total of $258,389.08 into his personal bank accounts from customers who had purchased annuities and life insurance policies. In addition, Simpson allegedly withdrew $248,000 from a client’s bank account and deposited the money into his personal bank account between November 2016 and August 2017.
“I’d like to thank the Department of Insurance fraud investigators for their hard work and due diligence in fighting fraud,” said DOI Commissioner Nancy Atkins.
A date for Simpson to appear in court has not yet been scheduled. If Simpson is found guilty, he could face forfeiture, restitution, $250,000 in fines, and up to 20 years in prison.