N.C. Insurance Commissioner Jim Long announced that a McDowell County resident was indicted by a Mitchell County Grand Jury on allegations of defrauding hundreds of insurance policyholders.
Harold T. Davis, a former insurance agent with State Farm Insurance Company of Mitchell County, is charged with one count of embezzlement by an insurance agent after allegedly pocketing more than $110,000 in premiums owed State Farm. Following an investigation conducted by Department of Insurance investigators and State Farm, Davis surrendered to Mitchell County authorities on April 21 and was required to post a $25,000 bond prior to his release.
“This office takes a hard stance against allegations of insurance fraud by licensed agents,” said Commissioner Long. “One of the top priorities of the Department is to keep consumers protected, and we take pride in the fact that our investigators, who are sworn, state law enforcement officers, have the ability to take action against the perpetrators of insurance fraud.”
The office of the Mitchell County District Attorney is prosecuting the case. Davis will make his first court appearance on May 13.
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