Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Submit News | Contact Us | Home RSS
 
 
 

Former insurance agent pleads guilty in fraud case

September 26, 2013
The Associated Press

DES MOINES - A Marshalltown insurance agent accused of selling customers fake insurance policies has pleaded guilty to a charge of wire fraud in a plea agreement reached with prosecutors.

In exchange for the guilty plea four other charges will be dropped against William Arthur Thiede.

An indictment filed in federal court in Des Moines in July said Thiede sold fake insurance policies to customers and pocketed more than $167,000 between 2004 and 2010.

Article Photos

Thiede

Court documents say American Family Insurance either gave customers their money back or honored the insurance policies.

Thiede, who is 65 and the former chair of the Marshalltown Chamber of Commerce, admitted to the charge in a plea agreement. He faces up to 20 years in prison.

On Tuesday a federal judge accepted the plea agreement.

 
 

 

I am looking for: