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Local insurance agent arrested on alleged embezzlement charges

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RALEIGH, NC (WWAY) -- A local insurance agent has been arrested and charged with embezzlement. Insurance Commissioner Wayne Goodwin says Earl E. Gay, 58, of Leland is charged with 14 counts of embezzlement by an insurance agent.

Department of Insurance criminal investigators allege that Gay embezzled more than $7,000 in combined life and accident insurance premiums while employed as an insurance agent with American General Life and Accident Company in 2010. An investigation was launched, and victims identified, as the result of consumer complaints filed with the Department of Insurance.

With the assistance of the Brunswick County Sheriff’s Office and New Hanover County Sheriff’s Office, Gay was arrested yesterday in Brunswick County and placed under a $10,000 secured bond.

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