March 30, 2010-Jamestown Sun

Former insurance agent faces 24 charges of theft

By: Katie Ryan, The Jamestown Sun

 The Stutsman County States Attorney’s office charged a former Jamestown insurance agent with two dozen counts of theft of property this month.

Rex Graves, Jamestown, was accused of 23 counts of theft of property in regards to insurance-related misappropriations. He is accused of using all or parts of insurance premium payments for his own personal benefit between July 2008 and March 2009. Clients were left without insurance on their homes, farms and vehicles, Insurance Commissioner Adam Hamm said in a May 2009 press release.

Hamm revoked Graves’ insurance license that year. Graves was also barred from the business of selling insurance.

About two dozen people were affected. The total loss, however, is not known, said Fritz Fremgen, state’s attorney. Fremgen said his best estimate was a loss of thousands of dollars.

The State’s Attorney also served Graves a 24th charge of theft of property and a forgery charge, but those aren’t insurance-related, Fremgen said. Graves is accused of forging a $700 check from a foundation. He is also accused of skimming that foundation’s banquet proceeds for $3,000 and taking $350 meant to buy a piece of jewelry at the banquet’s silent auction.

The theft of property charges range in severity from Class B misdemeanors to Class B felonies. The forgery charge is a Class C felony.

Attempts to reach Graves for comment at his home or office were unsuccessful as those numbers have been disconnected.

A date from Grave’s preliminary hearing has not been set. He is out on bail. Conditions include no gambling, Fremgen said, and no possession or ownership of firearms