Fayetteville Insurance Agent Charged With Embezzlement

Copyright 2010 The Fayette Observer The Fayette Observer (Fayetteville, North Carolina)

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September 15, 2010 Wednesday

BUSINESS AND FINANCIAL NEWS

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230 words

BRIEF: Fayetteville insurance agent charged with embezzlement

The Fayetteville Observer, N.C.

Sept. 15--A Fayetteville insurance agent was charged Tuesday with four counts of embezzlement, according to the N.C. Department of Insurance.

Timothy Michael Moore, 40, of Thorndike Drive, is accused of embezzling $5,842 between Nov. 7, 2008, and Oct. 31, 2009, while he was a licensed insurance agent and owner of TM Moore Insurance agency, doing business as Affinity Financial Group in Fayetteville.

According to the Insurance Department, Moore is accused of defrauding Dairyland Auto Insurance Co., Discovery Insurance Co., GMAC Insurance and N.C. Grange Mutual Insurance Co. by taking money from policyholders for insurance premiums and pocketing the money for his personal use.

A spokeswoman for the insurance department said there was no lapse in coverage for any of those policyholders.

Moore was arrested by Fayetteville police Tuesday and was to appear in court today. He had been released on a $500 unsecured bond.

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September 16, 2010