An insurance agent in Grundy County, Tennessee, has been indicted on charges of theft and insurance fraud, the Tennessee Bureau of Investigation announced on Saturday.
Between December 2010 and November 2015, Troy Shrum received money from several customers that was intended to pay their insurance policy premiums, investigators said.
“Those payments were never forwarded to the insurance provider, causing their policies to be cancelled due to lack of payment.”
Want the latest insurance industry news first? Sign up for our completely free newsletter service now.
The Grundy County Grand Jury returned indictments last week charging Shrum with two counts of Theft of Property and two counts of insurance fraud.
Shrum turned himself in last Friday and was booked into the Grundy County Jail. He was released after posting a $7,500 bond.
Manager deceives boss in $1 million fraud
State fraud investigators looking for fake GEICO agent