A former Farmers Insurance agent from Meridian, Idaho was sentenced to up to five years in prison after he pleaded guilty to diverting more than $3,700 in premium payments for his personal use.
Fourth District Judge Thomas Neville suspended the prison sentence and placed 44-year-old Raymond R. Rice in retained jurisdiction for up to a year. He will be evaluated in an Idaho Department of Correction facility before Neville decides if Rice will serve the prison sentence or be placed on probation.
The court will set Rice’s restitution at a later date.
Rice pleaded guilty on Dec. 17 to two counts of misappropriation or diversion of fiduciary funds for premiums taken between August and November of 2011.
The Idaho Department of Insurance revoked Rice’s license in May.
Topics Agencies
Was this article valuable?
Here are more articles you may enjoy.
Longtime Alabama Dentist Charged With Insurance Fraud in 2025 Office Explosion 
Florida Board Drafting Rules That Could Stem Bogus Engineering Reports in Claims 
Progressive Q4 Income Up 25%; CFO Sauerland to Retire in July 
Illinois USPS Employee Indicted for Alleged Workers’ Comp Fraud 
