For Immediate Release: December 23, 2014

Wake Forest Insurance Agent Accused of Embezzlement

RALEIGH -- Insurance Commissioner Wayne Goodwin today announced the arrest of Aaron Collier Guetterman, 33, of 1304 Haltwhistle St., Wake Forest; he was charged with one felony count of embezzlement by an insurance agent and eight felony counts of financial identity theft.

Department of Insurance criminal investigators allege that between July 2013 and February 2014, while acting as an insurance agent for Monumental Life Insurance Company, Guetterman received $16,237 in advanced commissions after creating fraudulent life insurance policies. Investigators accuse Guetterman of obtaining and using the social security numbers of 24 people to create the fraudulent policies without their knowledge.

Guetterman was arrested on Dec. 22 and placed under a $10,000 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