Former Advisor Gets 2 Years For Embezzlement - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Life Insurance News
Newswires RSS Get our newsletter
Order Prints
November 7, 2014 Newswires
Share
Share
Post
Email

Former Advisor Gets 2 Years For Embezzlement

Rob Wheary, The News-Item, Shamokin, Pa.

Nov. 07--WILLIAMSPORT -- A former insurance agent from Herndon will begin a two-year prison sentence in January for embezzling more than $680,000 to allegedly pay off gambling debts.

Derl Knarr, 55, was sentenced Wednesday in U.S. Middle District Court on a charge of insurance crimes affecting interstate commerce. U.S. District Judge Matthew W. Brann made the recommendation to have Knarr serve his sentence in the federal prison in either Lewisburg, Cumberland, Md. or Charleston, W.Va.

Knarr was also ordered to pay $688,914.91 in restitution, the bulk, $664,761.24, going to Allstate Life Insurance Co. Brann ruled, though, that two victims will be paid first, one getting $20,853.67, the other $3,300.

According to U.S. Attorney Peter J. Smith, Knarr stole the funds in Snyder, Northumberland and other counties while he worked as an agent for Allstate Financial Services. The thefts occurred between 2006 and 2012.

The investigation was conducted by the FBI, State College Resident Office.

Knarr allegedly embezzled, abstracted, purloined and misappropriated money, funds, premiums, credits and other property of the insurance business totaling $630,836.72. His actions caused clients to liquidate certain Lincoln Benefit Life Co. annuities and endorse proceeds checks to him.

Knarr is accused of depositing the checks into accounts that he controlled. Knarr collected funds from clients for the purchase of annuities, which the defendant failed to purchase, instead depositing the money into his own accounts.

Knarr also allegedly used the funds stolen from his clients to pay for personal expenses, including trips to casinos in Pennsylvania and New Jersey.

Knarr will surrender himself to begin his sentence Jan. 5 at the corrections facility chosen by the Federal Bureau of Prisons.

___

(c)2014 The News-Item (Shamokin, Pa.)

Visit The News-Item (Shamokin, Pa.) at www.newsitem.com

Distributed by MCT Information Services

Newer

Injured couple sue driver, trucking firm

Advisor News

  • Iowa House backs temporary tax hike to fill Medicaid gap
  • Iowa Medicaid temporary tax plan draws sharp public opposition
  • Charitable giving planning can strengthen advisor/client relationships
  • New $6K deduction could provide tax planning window for retirees
  • Iowa Medicaid temporary tax plan draws sharp opposition
More Advisor News

Annuity News

  • We can help find a loved one’s life insurance policy
  • 2025: A record-breaking year for annuity sales via banks and BDs
  • Lincoln Financial launches two new FIAs
  • Great-West Life & Annuity Insurance Company trademark request filed
  • The forces shaping life and annuities in 2026
More Annuity News

Health/Employee Benefits News

  • Medical debt associated with deferring dental, medical, and mental health care: Johns Hopkins Bloomberg School of Public Health
  • New Managed Care Study Findings Recently Were Reported by Researchers at University of Texas Southwestern Medical Center (Association of Vaping-Related Events with Relative Harm Perceptions of E-Cigarettes): Managed Care
  • Findings from American Public University Provides New Data about Managed Care (Public Health Impact of Wildfire Smoke Exposure: Analysis of Respiratory-Related Medicaid Claims in Wyoming): Managed Care
  • Iowa House backs temporary tax hike to fill Medicaid gap
  • Health insurance jargon can be frustrating and confusing – here’s how to navigate it
More Health/Employee Benefits News

Life Insurance News

  • New individual life premium hits record-setting $17.5B in 2025
  • Maryland orders Cigna to halt underpaying doctors or give cause
  • Insurers optimistic about their investments in 2026
  • AM Best Affirms Credit Ratings of PVI Insurance Corporation
  • Securian Financial Study Finds Americans Are Falling Into Workplace Benefits “Affordability Trap,” With Many Taking Financial Risks for Bigger Paychecks
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

Your Cap. Your Term. Locked.
Oceanview CapLock™. One locked cap. No annual re-declarations. Clear expectations from day one.

Ready to make your client presentations more engaging?
EnsightTM marketing stories, available with select Allianz Life Insurance Company of North America FIAs.

Unlock the Future of Index-Linked Solutions
Join industry leaders shaping next-gen index strategies, distribution, and innovation.

Press Releases

  • LifeSecure Insurance Company Announces Retirement of Brian Vestergaard, Additions to Executive Leadership
  • RFP #T02226
  • YourMedPlan Appoints Kevin Mercier as Executive Vice President of Business Development
  • ICMG Golf Event Raises $43,000 for Charity During Annual Industry Gathering
  • RFP #T25521
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet