nd.gov - The Official Portal for North Dakota State Government
North Dakota: Legendary. Follow the trail of legends
North Dakota Insurance Department
Jon Godfread, Commissioner
Twitter Flickr YouTube RSS
communications prescription shic healthcare enforcement compliance forms special
consumers producers companies
Home > Communications > News
Poolman: Issues Cease and Desist Against Fargo Insurance Agent
~ Will Proceed to Revoke Insurance License ~

September 20, 2006 701-328-2440

Bismarck, ND - Insurance Commissioner Jim Poolman today issued a cease and desist order against David A. Skjerven, a Fargo insurance agent, who has allegedly been involved in a Ponzi scheme that has defrauded individuals in the Fargo area. The order bars Skjerven from engaging in the business of insurance.

The order has been issued as a result of Skjerven borrowing money from previous or current insurance clients and failing to repay money. State law prohibits a licensed insurance agent from soliciting or accepting a loan from any person with whom the agent has had an insurance relationship within the last ten years. It is alleged that Skjerven borrowed more than $2 million from clients. 

Poolman said, "By taking this action today, I am working to ensure that insurance consumers are not harmed further by Skjerven and his illegal actions."

In a separate administrative proceeding, Poolman will move to permanently revoke the license of Skjerven. Skjerven has a right to request an administrative hearing on both the cease and desist order and the administrative complaint within 30 days of issuance. 

# # #

View order 

North Dakota Insurance Department
600 E. Boulevard Ave.
Bismarck, ND 58505-0320
Phone 701.328.2440
Toll free 800.247.0560
Fax 701.328.4880

Copyright © 2019 North Dakota Insurance Department
Contact us
About us
RSS feeds
Site map
Privacy policy
Security policy