DOI News

For Immediate Release: Contact:
October 22, 2009 Kristin Milam
Johanna Royo
919-807-6011
 
Insurance Agent Arrested on Charges of Embezzlement
 
RALEIGH -- Insurance Commissioner Wayne Goodwin today announced the arrest of Joseph Preston Alligood, 32, 762 Okisko Road, Elizabeth City. Alligood, an independent insurance agent, is charged with 13 counts of embezzlement by an insurance agent. According to the investigation, Alligood allegedly submitted insurance premium paperwork on behalf of new customers, but always with some missing information. When the insurance company returned the premium paperwork, Alligood kept the refund. He owned his insurance agency in Edenton from 2007 to 2008. Alligood is accused of embezzling at least $9,564.
 
Alligood was processed by the Chowan County Sheriff's Office. He was placed under a $36,000 unsecured bond and is scheduled for trial in late January. His insurance agency is now closed.
 
The Department of Insurance employs 20 sworn law enforcement officers dedicated to investigating claims of insurance fraud. So far in 2009, these criminal investigators have seen more than 241 cases successfully closed with more than $9.7 million in restitution and recoveries, 67 criminal convictions and 123 arrests and 92 cases pending in court.
 
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 --