Hamm updates consumers on Fargo fraud case Posted on 5/23/2008
BISMARCK, N.D.-North Dakota Insurance Commissioner Adam Hamm announced today that he is asking a court by way of injunction to restrict Larry Atkins, a Fargo-area insurance agent, and his wife, Candace Kane, from disposing of any of their assets. Atkins was served a cease and desist order April 25 for alleged insurance fraud, barring him from engaging in the business of insurance.
If granted, the injunction would order Atkins and Kane to refrain from disposing of, selling, transferring or releasing any interest they may have in any asset. This would help protect assets that could be used to repay alleged victims.
"We are working closely with the North Dakota Securities Department in this investigation," Hamm said, "because most of the people involved in Atkins' investment scheme were also his insurance clients."
Letters will be mailed to consumers identified as insurance clients of Atkins containing information about the investigation. The Insurance Department has already assisted consumers with verifying policies and beneficiaries and, in one case, obtaining a refund on a recently purchased policy.
Anyone needing more information regarding insurance policies sold by Atkins or the entity Atkins Brokerage can contact the North Dakota Insurance Department at (701) 328-2440 or 1-800-247-0560.
