Jeremy Lee Olson, 46, of Clarkfield, was convicted of three felony counts of insurance fraud last week in the 8th Judicial Court in Monte≠video.
Jeremy Lee Olson, 46, of Clarkfield, was convicted of three felony counts of insurance fraud last week in the 8th Judicial Court in Montevideo. Olson is the former owner of the Montevideo Insurance Center.
In April of 2017, Olson was charged with four counts of felony insurance fraud, two separate counts of aggravated forgery, and one felony count of issuance of a dishonored check.
According to court documents, Olson accepted insurance policy premiums on behalf of twelve clients in 2015 and 2016, but did not apply those payments to their policies. This resulted in those policies being cancelled without the clients knowledge.
In one instance, a client who had a house fire was not able to collect the full amount for vehicles damaged during the fire because the policy had been cancelled.
In October of 2016, Olson sold his insurance business and the new owners discovered discrepancies in Olson’s records concerning billing and policies.
During the ensuing investigation, investigators found evidence of $9,234 in missing premiums that were given to Olson but never applied to insurance policies.
In a plea agreement, Olson pleaded guilty to the three felony insurance fraud charges while the other charges of aggravated forgery and issuance of a dishonored check were dismissed.
In its disposition, the court has ordered Olson to pay $22,723 in restitution to the twelve victims. In addition, he was sentenced to serve 30 days in the Chippewa County jail.
Olson may not, however, have to serve any time in jail if he pays the restitution, follows the terms of his probation, and completes 80 hours of community service.
A stay of imposition may be granted to Olson if he successfully completes all the portions of his sentence, meaning the felony convictions may be reduced to misdemeanors.
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