N.C. Agent Pockets $8,300, Charged With Embezzlement

Ponce D. Moody, 53, of Raleigh, N.C. was arrested on charges of embezzlement by an insurance agent according to Insurance Commissioner Jim Long. Moody allegedly pocketed more than $8,300 in collected insurance premiums that should have been remitted to insurance companies to pay for clients’ policies.

Upon review of the initial complaints to the Department of Insurance’s Agent Services Division, allegations of misappropriations surfaced. The case was then turned over to the Department’s investigators, who are sworn law enforcement officers with the power of arrest. Moody surrendered to investigators at the Wake County, N.C. Magistrate’s office. He also surrendered his insurance licenses.