DOI News

For Immediate Release: Contact:
May 1, 2009 Kristin Milam
Johanna Royo
919-807-6011
 
Kannapolis Insurance Agent Arrested on Charges of Embezzlement
 
RALEIGH -- Insurance Commissioner Wayne Goodwin today announced the arrest of Sherri Efrid, 45, 11174 Mooresville Road, Davidson. According to the investigation, Efrid twice collected premium payments totaling $1,700 for workers' compensation insurance from a local business owner and failed to remit the money to the insurance company. After another employee couldn't find a record of insurance for the victim, he contacted the Department of Insurance.
 
Efird was employed by William Reames Insurance in Kannapolis, but has surrendered her insurance licenses. She is charged with one count of embezzlement by an agent. Efird was taken to the Cabarrus County Sheriff's Office and released on a written promise to appear in court.
 
Investigators are always concerned when an insurance agent embezzles from the agency where they are employed because the possibility always exists that more policyholders could be affected. Anyone who thinks they may be a victim of insurance fraud should call the Department of Insurance Criminal Investigations Division at 919-807-6840.
 
The Department of Insurance employs 20 sworn law enforcement officers dedicated to investigating claims of insurance fraud. In 2008, these investigators saw more than 453 cases successfully closed with more than $5.8 million in restitution and recoveries, 60 criminal convictions and 130 arrests.
 
An estimated 10 cents of every dollar paid in premiums goes toward the payment of fraudulent claims. To report suspected fraud, contact the Department of Insurance Investigations Division at (919) 807-6840. Callers may remain anonymous. Information is also available at the NC-DOI Web site.
 
-- NCDOI --