Iowa Agent Placed on Probation Owes $30K, Has License Revoked

July 23, 2021

Des Moines, Iowa, Chad Mackland, of Council Bluffs, Iowa, recently submitted an Alford plea to the charge of Ongoing Criminal Conduct (Class B Felony) in Pottawattamie County District Court following an investigation by the Iowa Insurance Division’s Fraud Bureau.

As part of the plea, Mackland received a deferred judgment, was placed on probation for three years, was ordered to complete 120 hours of community service, and was ordered to pay $30,000 in victim pecuniary damages.

According to the consent order issued by the Iowa Insurance Division, “Mackland was alleged to have fraudulently converted life policies, increased policy coverage without consent, initiated or directed others to initiate policy loans without the insured’s consent, initiated or directed others to initiate premium draft changes without the insured’s consent, misrepresented the purpose of various insurance forms, and misrepresented to multiple insured’s that money would be deposited into a special holding account when in fact no such account existed and the money was used as premium payments for life policies.”

The consent order issued July 9 permanently revoked Mackland’s Iowa resident insurance producer’s license. He had been licensed since January 2005.

Source: IID

Topics Agencies Iowa

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