For Immediate Release: February 18, 2013

Former Monroe Financial Advisor Charged With Alleged Embezzlement

RALEIGH -- Insurance Commissioner Wayne Goodwin today announced the arrest of Ricky Gayland Crocker, Sr., of 4013 Parkwood School Road, Monroe; he is charged with two counts each of obtaining property by false pretense and embezzlement by an insurance agent, broker or administrator.

Department of Insurance criminal investigators allege that between Oct. 1, 2008, and Jan. 2, 2009, Crocker used his position as a financial advisor for MetLife Insurance Company to embezzle $33,000 from a customer’s account. In addition, investigators allege that on June 15, 2009, Crocker redirected funds from the sale of a stock certificate worth $58,604 into his personal business fund, Carolina Media Marketing Group, without the knowledge or consent of the MetLife customer for whom he sold the certificate.

Crocker was arrested on Feb. 13, processed at the Union County Sheriff’s Office, and released on a $5,000 unsecured bond.

If you suspect that you are a victim of this alleged embezzlement scheme, you are urged to contact the North Carolina Department of Insurance Criminal Investigations Division at (919) 807-6840.

The Department of Insurance employs 20 sworn state law enforcement officers dedicated to investigating and prosecuting claims of insurance and bail bonding fraud. Since Insurance Commissioner Wayne Goodwin took office in 2009, criminal investigators have received more than 16,800 complaints, resulting in 720 arrests and 380 criminal convictions. These efforts have delivered more than $50 million in restitution and recoveries for victims.

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.

--NCDOI--