A Wadena insurance agent was charged with mail fraud by federal indictment.
According to a release from the U.S. Attorney’s Office, 56-year-old John Paulson owned and operated an independent insurance agency, and between 2011 and 2018, engaged in a scheme to defraud by stealing money he collected from his clients for their insurance premiums.
The indictment says that Paulson distributed fake invoices to his clients that fraudulently inflated the amount of money they owed, and instead of paying over the premiums to the insurance companies, he used much of that money for his own use, such as paying his home mortgage and credit card bills.
In total, Paulson is accused of stealing $524,000 from his clients. Paulson has not yet made a court appearance.