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Former insurance agent ordered to make restitution

Published On: Sep 25 2013 12:18:04 PM CDT
Salem, OR -

State regulators say a former McMinnville insurance agent has been ordered to reimburse seven clients for $46,000 in premiums he kept instead of forwarding to insurers.

The state Department of Consumer and Business Services said Wednesday its Insurance Division has revoked the expired agent license and active insurance consultant license of Raymond Madison.

The department said the victims included a restaurant, a fire equipment store, and a gutter and siding business.

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