Former Georgia Agent Charged with Insurance Fraud and Forgery

Michael Durrell Preston Jr., 42, from Woodstock and Canton, Georgia, is currently missing following charges of insurance fraud and forgery. Preston, a former agent with State Farm insurance companies, is accused of misappropriating a $3,500 premium payment check from a policyholder.

The Case Details:

Fraudulent Activity: In 2021, reports emerged about potential fraud involving Preston. He allegedly diverted a policyholder’s premium payment to his personal bank account rather than using it for its intended purpose.
Official Investigation: The local authorities referred the case to the Georgia insurance commissioner’s office, which led to an official investigation. Commissioner John King’s statement confirmed Preston’s misuse of the funds.
License Status: Preston’s agent license was marked inactive in September 2022. His professional history includes appointments with State Farm, Auto-Owners Insurance Co., Property-Owners Insurance Co., and others.
Warrants Issued: Arrest warrants for Preston were issued on November 15, two years after the initial fraud report.
This incident highlights the importance of ethical conduct and transparency in the insurance industry. It also underscores the need for rigorous monitoring and enforcement mechanisms to prevent and address fraudulent activities by insurance professionals.