Former N.C. agent pleads guilty to embezzling from clients, insurers

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A former La Grange, N.C., insurance agent was sentenced to 48 months of supervised probation, including one year of house arrest, after pleading guilty to five counts of embezzlement.

Terri Lynn Spence, 34, made the plea in Lenoir County Superior Court, and also was ordered to pay $46,773.93 in restitution to more than 40 policyholders and 16 insurance companies, according to the North Carolina Department of Insurance.

Spence was arrested in June 2008 on charges of embezzlement and obtaining property by false pretense following a department investigation. The former agent failed to pass on premiums paid by her customers to insurers for policies, which were mostly for homeowners insurance and workers’ compensation.

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