Donald W. Morgan, 67, of Bingen, Wash., pleaded guilty in Snohomish County Superior Court to a felony count of first-degree theft involving his former customers’ insurance premiums.
He is serving 30 days in the Snohomish County jail and will pay $600 in court fees and restitution to be determined at a later date.
Prosecutors charged Morgan, a former insurance agent, after an investigation by Insurance Commissioner Mike Kreidler’s Criminal Investigations Unit.
Kreidler revoked Morgan’s insurance producer license in 2016 for misappropriating clients’ insurance premiums worth more than $203,000. He operated an insurance agency that sold commercial insurance policies to businesses. The investigation revealed he kept some insurance premiums that his clients paid him rather than remitting the money to the insurance companies, causing the clients to be uninsured.
Victims in Snohomish County included early learning centers, an architectural firm and premium finance companies. Morgan reportedly acquired loans from premium finance companies on behalf of clients without their knowledge.
Topics Fraud Agencies Washington
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