Adjuster steals $1 million from Shelter Insurance through forgeries
A Jefferson City, Mo., insurance adjuster must pay restitution after he was found to have stolen more than $1 million over six years as an employee of Shelter Insurance.
The man, Robert Reibold, 60, cashed checks made payable to the insurer and/or its customers and put it into his account between August 2003 and August 2009, according to a report in the Jefferson City News Tribune.
Reibold was found to have cashed of more than $25,000 in checks made payable to Shelter Insurance customers.
Prosecutors said Reibold opened a personal account in August 2003, doing business as “Shelter Insurance,” according to the report. From that account, he was found to have written checks to people whose claims he handled. Those checks, however, were for an amount less than the actual claims payment checks, which he was forging endorsements on and putting into his “Shelter Insurance” account. He used a portion of those funds from actual Shelter Insurance claims payments to fund his payments to customers of a lesser amount, the report said.
The sentence, including 60 days he served in jail, was part of a plea bargain. He could have faced between five years and 15 years in prison for the Class B felony, the report said.
Shelter Insurance sells insurance and financial service products in 14 states, primarily in the Midwest, according to the company website.


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