For Immediate Release: September 15, 2010
Contacts: Kristin Milam or Kerry Hall: 919-807-6011
Fayetteville Insurance Agent Accused of Embezzlement
RALEIGH -- Insurance Commissioner Wayne Goodwin today announced the arrest of Timothy Michael Moore, 40, of 3429 Thorndike Drive, Fayetteville, on four counts of embezzlement by an insurance agent.
Department of Insurance criminal investigators allege that between Nov. 7, 2008, and Oct. 31, 2009, Moore embezzled $5,842.05 while he was a licensed insurance agent and owner of TM Moore Insurance Agency DBA Affinity Financial Group in Fayetteville.
He is accused of defrauding Dairyland Auto Insurance Company, Discovery Insurance Company, GMAC Insurance and N.C. Grange Mutual Insurance Company by taking money from policyholders for insurance premiums and pocketing the money for his personal use.
Moore was arrested by the Fayetteville Police Department on Sept. 14, processed at the Cumberland County Detention Center and put under a $500 unsecured bond. He was scheduled to appear in court on Sept. 15.
The Department of Insurance employs 20 sworn law enforcement officers dedicated to investigating claims of insurance fraud. So far in 2010, these criminal investigators have seen more than 167 cases successfully closed with more than $5.8 million in restitution and recoveries, 40 criminal convictions and 66 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 Criminal Investigations Division at 919-807-6840. Callers may remain anonymous. Information is also available at www.ncdoi.com.