Wednesday, April 11, 2012
OKLAHOMA CITY – Oklahoma Insurance Commissioner John Doak announced today that the Anti-Fraud Unit of the Insurance Department is investigating the misappropriation of funds by a former employee of twelve years at the Oklahoma County branch of Farm Bureau.
The former employee is being investigated by the Insurance Department after a suspected loss of over $270,000 was discovered by an internal Farm Bureau auditing process. The Insurance Department was immediately notified when it was discovered that alleged office expenses were not substantiated by receipts.
Doak said that, with his office’s new approach to fraud investigation, he expects more of these instances to be discovered and prosecuted.
Designation of Customer Service Representative has been suspended by the Insurance Department and a Hearing on Revocation is set for April 23rd for the former employee’s license.
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For more information, visit http://content.govdelivery.com/bulletins/gd/OKOID-3af60b