Former insurance agent in Heyburn pleads guilty to fraud
Coeur d'Alene Press | UPDATED 3 weeks, 2 days AGO
The Idaho Department of Insurance announced that Stetzen Bailey, of Heyburn, pleaded guilty Feb. 23 to one felony count of insurance fraud. Bailey is a former Farm Bureau insurance agent.
The DOI Fraud Unit's investigation found that Bailey knowingly backdated an insurance policy on a 2018 Bombardier snowmobile belonging to a family member, a press release said Wednesday.
"At the time Bailey created the policy, the snowmobile had already been damaged in a collision. As a result of the fraudulent backdating, Farm Bureau Insurance paid out more than $7,000 before the fraud was uncovered," the release said. "Investigators with the Department confirmed the damage occurred prior to the false effective date of the policy."
On May 11, Bailey was sentenced in Cassia County District Court to:
• A unified sentence of five years, consisting of two years fixed plus three years indeterminate.
• A suspended sentence in favor of three years of supervised probation.
• Completion of 10 days on the sheriff's work detail.
• Completion of 40 hours of community service.
• Payment of fines and restitution.
"Insurance agents hold positions of significant trust, and any agent who abuses that trust will be held fully accountable," said Dean L. Cameron, director of the Idaho Department of Insurance. "Fraud committed by industry professionals is especially serious because they know better. We will continue to take firm action against anyone who attempts to manipulate the system for personal gain."