Poolman Suspends License of Williston Insurance Agent Posted on 6/24/2002
FOR IMMEDIATE RELEASE
Contact: Jim Poolman
June 24, 2002
701-328-2440
Bismarck, ND - Today North Dakota Insurance Commissioner Jim Poolman suspended the license of Williston insurance agent Shawn M. Wyse. Poolman said the suspension was based on Mr. Wyse's criminal convictions as it directly related to his insurance practices.
Wyse was convicted of Class C Felony Deceptive Writings in April 2002 in Williams County District Court. He was sentenced to two years to a state correctional facility and ordered to pay a fine. The sentence was suspended and Mr. Wyse was placed on probation for a period of five years.
Poolman said that Wyse's conviction resulted from his issuing of fraudulent bail bonds without the knowledge or permission from the insurance company. Wyse attempted to use these fraudulent bonds to post bond for defendants in criminal cases in the Williams County area.
According to Poolman, under the terms of the administrative order, Mr. Wyse's license will be suspended for 5 years and the removal of the suspension is dependent in part upon his successful completion of his criminal probation. During the time of suspension, Mr. Wyse may not represent himself as a licensed insurance agent or engage in any activities that would require an insurance license.
Poolman stated, "It is my responsibility to make sure that our insurance agents are trustworthy and honest. In this case Mr. Wyse's actions are very serious and prove that, at this time, he is not fit to hold an insurance license in North Dakota."
