The Washington State Insurance Commissioner’s Office has issued an arrest warrant for former insurance agent Edward Hadley, who is accused of fraud. Hadley, previously operating out of Seattle, faces at least 9 counts of fraud, related to the embezzlement of over $424,000. A bench warrant was issued for his arrest on January 15th in Seattle Court.
Between December 2020 and November 2021, Hadley deposited 21 checks totaling $424,107, made payable to HUB International Northwest LLC (HUB NW), into his personal bank account rather than the proper business account. In one case, a client switched their earthquake insurance policy to another company, Superior Underwriters, and requested previous policy copies from Hadley. Upon receiving the policies, Superior Underwriters discovered that the documents provided had falsified information regarding terms, premiums, and issuance dates.
Victims in the case reported that they had issued checks to HUB NW, not to Hadley personally, but Hadley altered the checks, writing his business name “City B Properties” on them before depositing the funds into his personal account. While Hadley repaid HUB NW over $276,000, it is unclear whether the funds were returned to the clients. An additional $147,719 remains unaccounted for.
Hadley is now wanted for fraud, with the Insurance Commissioner’s Office continuing their investigation into his financial misdeeds.
