Owner of Michigan Insurance Agency Charged With Embezzlement

The owner of a Michigan insurance agency has been charged with embezzling money from employees by misappropriating payroll deductions, announced Attorney General Dana Nessel.

Nancy Caviston, 76, of Superior Charter Township, was arraigned Thursday on charges of embezzlement and wage and benefit violations before the 35th District Court in Wayne County. Caviston is owner of The Caviston Agency in Plymouth, a suburb of Detroit.

Caviston is alleged to have misappropriated payroll deductions of two long-term employees meant to serve as IRA contribution withholdings toward her personal and business expenses, it is alleged. Caviston also allegedly failed to make the required employer matching contributions toward those IRA accounts.

The U.S. Department of Labor’s Employee Benefits Security Administration conducted the investigation into Caviston.

Caviston faces two counts of Embezzlement by an Agent, $1,000-$20,000, a 5-year felony, and two counts of Wages and Fringe Benefits Violations, a 90-day misdemeanor.

Caviston was given a $5,000 personal recognizance bond and will next appear before Judge James Plakas in the 35th District Court for a probable cause conference on February 2nd, 2024, the Attorney General’s office announced.

“Payroll fraud is an insidious offense that can go undetected for years without the victim employee becoming aware,” said Nessel. “Working Michiganders should be able to trust that their deductions are going toward their rightful purposes, especially retirement funds they intend to rely on in their post-career years.

The Caviston Agency was founded in 1981 and has access to over 50 carriers from property, liability, health, life and long-term healthcare insurance. The agency has four employees on its staff including Caviston, according to its website.

Topics Michigan