For Immediate Release: August 19, 2014
Mount Olive Insurance Agent Arrested for Alleged Malfeasance
RALEIGH -- Insurance Commissioner Wayne Goodwin today announced the arrest of Manargo Victor Boykin, 52, of 604 N.C. Highway 55 West, Mount Olive; he was charged with one count of obtaining property by false pretense and six counts each of corporate malfeasance, rate evasion and misrepresentation on an insurance application.
Department of Insurance criminal investigators allege that between 2010 and 2014, Boykin, while acting as a licensed insurance agent, used driver's license numbers and dates of birth from several of his clients to write auto insurance coverage for other clients so they could obtain better rates and so he could gain the commissions. Boykin received approximately $55,000 in commissions from Sentry Insurance Company as a result of his alleged misconduct. The investigation is on-going and more charges may be forthcoming.
Boykin was arrested on Aug. 15 and placed under a $9,000 bond.
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 made more than 1,000 arrests, resulting in more than 500 criminal convictions with more than 200 cases currently pending court. These efforts have delivered more than $61 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.