06/11/08 — LaGrange insurance agent arrested

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LaGrange insurance agent arrested

By News-Argus Staff
Published in News on June 11, 2008 1:45 PM

RALEIGH -- Insurance Commissioner Jim Long announced the arrest of Terri Lynn Spence, 34, of 2860 Sybil Drive, Kinston, on four counts of embezzlement by an insurance agent and one count of obtaining property by false pretense. She was processed at the LaGrange Police Department and released under $15,000 secured bond.

Spence owns the S and T Insurance Agency on 117 S. Caswell Street in LaGrange. Department investigators allege that she failed to remit more than $6,000 in premiums to insurance companies, leaving some customers without insurance coverage.

Investigators believe there could be more victims and encourage anyone who purchased insurance through S and T Insurance Agency after January 2007 to bring their insurance information, receipts or policy documentation to the LaGrange Police Department on June 16-20 from 9 a.m. to 4 p.m. to determine if their coverage is valid. For more information, consumers may contact the LaGrange Police Department (252) 566-3400.

The Department of Insurance employs 20 sworn law enforcement officers dedicated to investigating claims of insurance fraud. In 2007, these investigators saw more than 525 cases successfully closed with more than $14.5 million in restitution and recoveries, 53 criminal convictions and 109 arrests.

To report suspected fraud, contact the Department of Insurance Investigations Division at 919-807-6840. Callers may remain anonymous. Information is also available at www.ncdoi.com.