North Carolina Insurance Agent Accused of Forgery and Identity Theft in Life Insurance Scam
February 12, 2025 | JacobiJournal.com — Forgery and Identity Theft: Authorities have charged a North Carolina insurance agent with forgery and identity theft in what investigators describe as a case of insurance fraud, accusing him of fraudulently obtaining a life insurance policy and later attempting to claim benefits. Matthew Jackson Swift, 42, of Mount Airy, is now awaiting a court appearance scheduled for February 19. Insurance fraud is a growing concern in North Carolina and across the United States, costing consumers and companies billions of dollars each year. According to the Coalition Against Insurance Fraud, scams like forged applications, staged claims, and false identities contribute to higher premiums for honest policyholders. State regulators note that cases involving licensed agents are especially troubling, since they undermine trust in an industry meant to provide financial protection for families and businesses. Details of the Allegations According to the North Carolina Department of Insurance (DOI), Swift forged documents twice in late 2023 to secure a life insurance policy from Southern Farm Bureau Life Insurance Co. Investigators revealed that the policyholder had no knowledge of the transaction. Shortly after, Swift allegedly submitted claims against the fraudulent policy, aiming to collect payouts unlawfully. Law enforcement officers arrested Swift earlier this month. However, he posted a $75,000 bond and was released shortly after. His upcoming court hearing will determine the next steps in the case. Swift’s Insurance Background and Previous Arrest Records from the National Association of Insurance Commissioners (NAIC) indicate that Swift holds a valid insurance producer license in North Carolina. However, his broker license expired in 2023. Despite this, he remains authorized to sell life, health, property, and casualty insurance. In the past, he worked with both Progressive Southeastern Insurance and Southern Farm Bureau Life. Notably, this is not the first time Swift has faced similar allegations in. Four months ago, authorities arrested him on related charges. In response, he denied any wrongdoing, claiming his former spouse had fabricated the accusations. Ongoing Investigation and Consumer Protection Efforts As the investigation continues, officials emphasize the importance of cracking down on insurance fraud to protect policyholders. The North Carolina DOI remains committed to holding fraudulent agents accountable and ensuring the integrity of the insurance industry. Insurance fraud not only impacts companies and regulators but also drives up costs for everyday consumers who rely on honest coverage. Authorities stress that even a single act of fraud can erode public trust in the system, making it harder for families and businesses to feel secure. By aggressively pursuing cases like this one, state officials aim to send a strong message that deceptive practices will not be tolerated in North Carolina’s insurance market. Read the official statement from the North Carolina Department of Insurance. FAQs: North Carolina Insurance Agent Fraud Case What are the specific charges against the North Carolina insurance agent forgery case? He faces allegations of forging documents to secure a fraudulent life insurance policy and attempting to claim benefits without the policyholder’s knowledge. Was this insurance agent accused of similar charges before? Yes, this is not his first arrest. Authorities previously charged him with similar allegations just four months earlier. What happens next in this insurance fraud case? He is scheduled to appear in court on February 19, where the next steps in the legal process will be determined. How does the state protect consumers from cases like this? The North Carolina Department of Insurance actively investigates insurance fraud and enforces strict actions against agents who violate consumer trust. How do you know if an agent is scamming you? Red flags often appear before insurance fraud becomes obvious. Watch for unexplained policy changes, premium payments that never reach the insurer, or pressure to sign documents you haven’t reviewed. Another warning sign is discovering a policy opened in your name without consent. To protect yourself, confirm the agent’s license status with your state insurance department and request all policy information directly from the insurer rather than relying solely on the agent. Stay informed on breaking news and fraud investigations. Subscribe to JacobiJournal.com today for trusted updates. 🔎 Read More from JacobiJournal.com:
Washington Insurance Agent Accused of Stealing $424K in Client Premiums
February 6, 2025 | JacobiJournal.com — Washington Insurance Agent Accused: A former Seattle insurance agent, Edward Hadley, has been charged with stealing more than $424,000 in insurance premiums from clients. After failing to appear in court, a King County judge issued a bench warrant for his arrest. Hadley faces nine counts of first-degree theft and insurance fraud following an investigation by the Washington Office of the Insurance Commissioner (OIC). Insurance fraud cases like this raise serious concerns about consumer trust and financial accountability in the industry. Authorities warn that schemes involving misused client premiums not only harm policyholders financially but also undermine confidence in legitimate insurers. Regulators emphasize that vigilance is necessary to protect consumers, urging clients to verify their payments and policies directly with carriers to avoid falling victim to similar misconduct. How the Fraud Unfolded Investigators revealed that between December 2020 and November 2021, Hadley diverted 21 checks totaling $424,107 into his personal account instead of the appropriate business account for HUB International Northwest LLC, his employer at the time. The fraud came to light when one of Hadley’s business clients switched their earthquake insurance provider to Superior Underwriters. When the new insurer requested copies of previous policies, they discovered discrepancies in terms, premiums, and contract dates. Worse, Hadley had reportedly provided falsified proof-of-coverage documents. Superior Underwriters immediately reported the issue to the OIC, which launched a regulatory investigation. Deceptive Practices and Misused Funds Eleven clients confirmed they had made payments to Hadley’s insurance agency, not to him personally. However, Hadley allegedly altered the payee name on the checks to “City B Properties” and deposited them into his personal ATM account. While Hadley did return $276,387 to HUB International Northwest, it remains unclear whether those funds were reimbursed to affected clients. The remaining $147,719 remains unaccounted for, according to the OIC. Legal Consequences and Industry Fallout As a result of the investigation, Hadley was added to Insurance Commissioner Patty Kuderer’s “Most Wanted” insurance fraud list. Additionally, the OIC revoked his insurance producer license in June 2024. Authorities are urging anyone with information regarding Hadley’s whereabouts to come forward. Cases like this highlight the importance of vigilance in the insurance industry to protect consumers from fraudulent agents. For consumers, this case serves as a reminder to verify that premium payments are made directly to the insurance company rather than an individual agent. Experts also recommend reviewing policy documents regularly and contacting insurers directly to confirm coverage details. These preventative steps can reduce the risk of falling victim to insurance fraud while reinforcing accountability across the industry. Read the full report from the Washington Office of the Insurance Commissioner. FAQs: Insurance Fraud Cases in Washington What led to the insurance fraud charges against the Washington agent? Investigators found he diverted more than $424,000 in client premiums into his personal account and provided falsified coverage documents. How did insurance fraud in this case come to light? A client switched providers, and the new insurer uncovered discrepancies in policy records, leading to a formal investigation. What are the legal consequences for insurance fraud in Washington? The agent faces nine counts of first-degree theft, a revoked license, and placement on the state’s “Most Wanted” insurance fraud list. How can consumers protect themselves from insurance fraud by agents? Clients should verify payments go directly to the insurer, request official policy documents, and confirm coverage with the carrier. What percentage of insurance premiums go to the agent? Insurance agents typically earn a commission on premiums, which varies by policy type and company. While agents are entitled to commissions, client premiums are not the agent’s personal funds—Hadley’s case demonstrates the consequences of misappropriating those payments. What is the B&O tax rate for insurance agents in Washington state? In Washington, insurance agents pay Business & Occupation (B&O) tax on gross income, which can vary depending on the business classification. Compliance with B&O tax rules is mandatory, and fraudulent handling of premiums, like in Hadley’s case, can trigger additional legal scrutiny. Stay updated on fraud investigations and business crime cases. Subscribe to JacobiJournal.com for reliable coverage. 🔎 Read More from JacobiJournal.com: