A North Carolina insurance agent has been sentenced to 48 months supervised probation with one year of electronic house arrest after pleading guilty to five counts of embezzlement, according to state officials.
Insurance Commissioner Wayne Goodwin announced the sentencing of Terri Lynn Spence, 34, of Emerald Isle. She was also ordered to pay $46,773.93 in restitution and court fees.
Spence was arrested by insurance department investigators and the LaGrange Police Department in June 2008 for embezzlement and obtaining property by false pretense. According to the investigation, 43 people and 16 insurance companies were affected by Spence’s actions. Most of the policies were homeowners insurance and workers compensation.
Lenoir County Superior Court Judge Paul Jones ordered the sentence.
Topics Agencies North Carolina
Was this article valuable?
Here are more articles you may enjoy.
AI Models May Soon Self-Replicate Across Smart-Home Devices, Anthropic Warns 
Harbor Emerges From Stealth with $10M Funding to Handle AI-Agent Risk 
Business Interruption Claims Approach $1M Average, Says Allianz 
Viewpoint: The ‘Unbundled’ Insurer Emerges in Age of AI as Value Chain Fragments 
