The owner of a Texas insurance agency faces up to 20 years in prison after his indictment on charges of using more than $100,000 in premiums for himself and not his clients.

Darryl W. Golter, owner of the Golter Insurance Agency in Pasadena, Texas, was indicted by a Harris County Grand Jury on a second-degree felony charge of misapplication of fiduciary property, according to the Texas Department of Insurance.

Golter is accused of collecting homeowners insurance premiums intended for acquiring windstorm coverage through the Texas Windstorm Insurance Association, but never properly obtaining policies for his customers. He allegedly collected more than $100,000 from 85 customers in TWIA premium payments and deposited the funds into his business account, never forwarding the money to cover his clients.

In September 2008, Hurricane Ike made landfall along the Texas coast and many of Golter’s customers sustained damage to their homes and were left without TWIA coverage due to his actions, according to the department.

The second-degree felony charge carries a maximum sentence of 20 years in prison and a minimum of two years, along with a fine of no more than $10,000.