Eden Woman Sentenced for Misappropriating Client’s Premiums
EDEN, Idaho (KLIX) – A Jerome County woman, while working as a licensed insurance agent in Idaho, was recently sentenced for misappropriating a client’s premiums, according to Attorney General Lawrence Wasden.
Nicole Prescott, 42, of Eden was sentenced on Sept. 27 in Fifth District Court for misappropriation or diversion of fiduciary funds. She pleaded guilty in July, Wasden’s office said in a news release on Monday.
"A Department of Insurance investigation determined that Prescott, while a licensed Idaho insurance agent, accepted more than $46,000 in premium funds from an agricultural client for crop hail insurance in September 2015. Prescott sent some of the premium to the insurance company, but left $28,000 unpaid. Investigators determined Prescott used the money for her own personal use."
Prescott has to serve 90 days in jail, with 45 days suspended, complete 100 hours of community service, and pay $862 in restitution to the Idaho Department of Insurance and $28,277 in restitution to Rain and Hail, LLC. She had her insurance licensed revoked in October 2017.
Source: Office of Attorney General Lawrence Wasden