A former Georgia insurance agent was missing Wednesday after he was charged with diverting a premium payment to his own bank account.
Michael Durrell Preston Jr., 42, of Woodstock and Canton, was charged with insurance fraud and forgery, the Georgia insurance commissioner’s office said. Preston was an agent with State Farm insurance companies when authorities received reports in 2021 about potential fraud and the alleged misuse of a $3,500 premium payment check from a policyholder.
Local authorities referred the case to the commissioner’s office.
“Our investigation showed that Mr. Preston, acting in his former occupation as an insurance agent with State Farm, received a check from a consumer intended to satisfy an insurance premium payment,” Commissioner John King said in a statement. “The suspect did not use the $3,500 check for its intended purpose and instead deposited the amount into his personal bank account.”
Warrants for Preston were issued Nov. 15, two years after the initial fraud report was received.
The agent verification site for the Georgia commissioner’s office shows that Preston’s agent license was inactive in September 2022. He was appointed with State Farm in 2017 and was previously appointed with Auto-Owners Insurance Co., Property-Owners Insurance Co. and others.
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