For Immediate Release: April 26, 2016
Rowan County Man Accused of Insurance Fraud
RALEIGH -- Insurance Commissioner Wayne Goodwin today announced the arrest of Stephen Thomas Davis, 37, of 785 Union Church Road, Salisbury; he is charged with one count of obtaining property by false pretense in excess of $100,000.
Department of Insurance criminal investigators accuse Davis of submitting a fraudulent affidavit to Wells Fargo Home Mortgage claiming entitlement to a settlement under the Servicemembers Civil Relief Act regarding property in Cabarrus County. The SCRA is intended to protect servicemembers' homes while they are deployed. Investigators allege that Davis' home did not go into foreclosure while he was deployed and that he fraudulently obtained $125,000 in benefits.
Davis was arrested on April 21 in Cumberland County and placed under a $20,000 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 1,500 arrests, resulting in more than 750 criminal convictions with more than 250 cases currently pending court. These efforts have delivered more than $72.1 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.