Insurance Fraud NEWS
Agent alters, endorses premium checks from Iowa clients
February 12, 2018, Bettendorf, IA
Court records show a former insurance agent in Bettendorf has been sentenced to five years supervised probation after pleading guilty in Scott County District Court to the charge of ongoing criminal conduct, a class “B” Felony.
Billie J. Holmberg, was originally charged in connection with an investigation conducted by the Iowa Insurance Division’s Fraud Bureau which concluded that Holmberg altered and endorsed a series of checks which in total exceeded over $7,000. The checks obtained by Holmberg were from insurance policyholders of American National Property and Casualty Insurance Company and were actually intended to pay their insurance premiums.
Records show Holmberg deposited the insurance premium proceeds into her own bank accounts and ultimately used the funds for personal use rather than as originally intended.
“Holmberg is no longer authorized to sell insurance in Iowa as her license was revoked by the Division on April 4, 2017 for this misconduct. This type of conduct cannot and will not be tolerated as consumers need to be able to put their trust in their insurance agents,” Iowa Insurance Commissioner Doug Ommen said.
“The vast majority of licensed agents are doing right by their clients every single day, but we will continue to work to bring cases like this to prosecutors in order to protect Iowans.”
The criminal prosecution was the result of a collaborative effort of the Scott County Attorney’s Office and the Iowa Insurance Division’s Fraud Bureau.
Iowans with information about insurance fraud are encouraged to contact the Iowa Insurance Division’s Fraud Bureau at 515-242-5304 or online at https://iid.iowa.gov/reporting-insurance-fraud.