(Sioux Falls, SD) — A former South Dakota insurance salesman is up against several federal charges. Gary King, who worked with Cypress Risk Management, is accused of pocketing over a million dollars in insurance premiums from colleges and universities instead of sending the money to insurance providers. According to the federal indictment, King collected nearly one and a half million dollars in insurance premiums from colleges for insuring athletes against injuries. That includes six-hundred-25 South Dakota athletes. His insurance license has since been revoked by the state. King now faces charges of wire fraud, money laundering, bank fraud, and mail fraud.
Former SD Insurance Salesman Up Against Federal Charges
