Related Federal Cases
Bail Bond Scam Lands Local Man Behind Bars
A Bridgewater, South Dakota, man has been sentenced for his role in a brazen insurance fraud scheme that left a bail bond company thousands of dollars poorer.
Steven Dean Krier, 57, was convicted of insurance fraud and sentenced to 2 months in federal prison, followed by 30 months of supervised release, and ordered to pay $54,625.50 in restitution to Dakota Bail Bonds, as well as a special assessment of $100 to the Federal Crime Victims Fund.
The scheme, which spanned a period of over a year, involved Krier selling bail bonds on behalf of Dakota Bail Bonds of Sioux Falls, but failing to turn over the premiums collected on over 50 bail bonds. The bonds were guaranteed by Financial Casualty and Surety, Inc. based in Houston, Texas.
As a result of Krier’s actions, he willfully misappropriated over $50,000 of the funds and premiums of Dakota Bail Bonds and Financial Casualty and Surety.
The investigation, led by the Federal Bureau of Investigation, revealed that Krier’s actions were a clear breach of trust, and he has been held accountable for his actions.
Krier pleaded guilty on July 27, 2018, and was sentenced on October 22, 2018. He has been allowed to self-report to the custody of the U.S. Marshals Service by October 29, 2018.
The case was prosecuted by Assistant U.S. Attorney Jeffrey C. Clapper. This incident serves as a reminder of the importance of holding individuals accountable for their actions, and the consequences of committing such crimes.
Key Facts
- State: South Dakota
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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