North Carolina insurance agency owner charged with embezzling $9,500

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The former owner of an insurance agency in Edenton, N.C., was arrested and charged with 13 counts of embezzlement by an insurance agent, North Carolina insurance regulators said.

Joseph Preston Alligood, of Elizabeth City, N.C., is accused of embezzling at least $9,564 from 2007 to 2008, according to state officials. Alligood allegedly submitted insurance premium paperwork on behalf of new customers with missing information. When the insurance company returned the paperwork, Alligood kept the refunds, officials said.

He was placed under a $36,000 unsecured bond and is scheduled for a trial in January 2010.

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