Former Insurance Agent Charged with Fraudulent Sales Practices, Money Laundering, and Violation of a Cease and Desist Order
- February 22, 2021
Des Moines, Iowa - Michael J. Heiberger, age 52, of Epworth, was recently charged with one count of Money Laundering (C Felony), six counts of Fraudulent Sales Practices (Class D Felony), and nine counts of Violating a Cease and Desist Order (Class D Felony) following an investigation by the Iowa Insurance Division’s Fraud Bureau.
The charges against Heiberger stem from an investigation which began in 2019. According to criminal complaints filed by the Iowa Insurance Fraud Bureau, Heiberger, while acting as an insurance producer altered customers' premium payment schedules and amounts to use the funds for unauthorized business and personal expenses.
Heiberger allegedly continued to act as an insurance producer without a license in violation of a Cease and Desist order which was issued by the Iowa Insurance Division on May 1, 2020.
On February 18, 2021, Heiberger was arrested and booked into the Dubuque County Jail. Heiberger was later released on bond.
Iowans with information about insurance fraud are encouraged to contact the Iowa Insurance Division’s Fraud Bureau at 515-654-6556.
No additional information will be provided at this time.
Note: A criminal charge is merely an accusation and a defendant is presumed innocent until proven guilty.
Source: Iowa Insurance Division
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