MONTGOMERY, AL (WSFA) - A Montgomery man has been indicted on a total of seven charges of first and second-degree insurance fraud, according to the Alabama Department of Insurance.
Walter Mark Anderson, IV, 48, is a licensed insurance producer, according to the ADI.
He's accused of taking premium payments for annual homeowner or auto insurance policies from seven victims totaling $9,185.30 and then failing to give the payments to the insurer, Horace Mann Insurance Group. He allegedly told the victims their policies were active and coverage was in place.
Victims were later notified that their policies had been, or were in the process of being canceled due to non-payment of premiums.
A Montgomery County grand jury returned the indictment in March. According to the indictment, the alleged crimes happened from December 2016 to March 2017.
The ADI says first-degree insurance fraud is a Class B felony and a conviction can carry a sentence of between two and 20 years. Second-degree insurance fraud is a Class C felony and can carry a sentence of one to 10 years.