Oakland County insurance salesman accused of embezzlement after failing to cancel policies
(CBS DETROIT) - An insurance salesman in Oakland County is charged after officials say he pocketed money from his commercial clients after they canceled their policies.
The Michigan Attorney General's office charged Charles Walker, of Southfield, with one count of conducting a criminal enterprise, one count of embezzlement by an agent of $20,000-$50,000, and two counts of embezzlement by an agent of $1,000-$20,000.
He was arraigned on Monday in 46th Magistrate District Court and was released on a $1,000 personal recognizance bond.
Officials say Walker, who owned and operated Charles Walker & Associates and the Walker Insurance Agency Group LLC, allegedly failed to revoke insurance premiums and failed to refund any unearned premiums after his customers canceled their policies.
"Companies pay premiums to protect their assets from unforeseen damages and theft," said AG Dana Nessel in a statement. "When insurance agents fraudulently pocket the money paid to them, it hurts their customers and leaves them without critical insurance coverage. My office remains committed to ensuring that Michigan business owners are not taken advantage of by bad actors."
The AG's office says the state Department of Insurance and Financial Services (DIFS) revoked Walker's insurance producer license as well as the license for Charles Walker & Associates in July 2017. However, he renamed and relicensed a new insurance agency as the Walker Insurance Agency Group LLC under the same address.
"I am grateful for the work that Director Fox and her team of investigators at the Department of Insurance and Financial Services, as well as the special agents and attorneys in the Financial Crimes Division in my Department, put into investigating this matter," Nessel said.
Walker is scheduled to appear for a probable cause conference on June 14.
