October 22, 2020

UPDATE: State releases further details in Yates Insurance fraud case

(Atlanta, GA) — The State of Georgia released further details and information Tuesday morning in regards to last week’s arrest of local insurance agent Michael “Brad” Yates.

The former Mayor of Franklin was arrested on Tuesday, December 5, 2017, and transported to the Heard County jail where he is charged with 32 counts of felony Insurance Fraud, and one felony count of False Statements to a State Law-Enforcement Agency.

Yates, age 45, is the owner of the Yates Insurance Services located at 1778 Franklin Parkway.

It was an investigation conducted by the Georgia State Board of Workers’ Compensation’s Enforcement Division that led to the arrest.

According to the press release issued by Enforcement Division Director Stan Bexley, the initial results of the investigation allege that Yates fraudulently took premium dollars for workers’ compensation insurance policies that were never issued and instead issued his clients bogus certificates of insurance as proof that they had workers’ compensation insurance coverage.

“Based on the evidence obtained during the investigation it has been determined that one false certificate created by Yates has cost a general contractor over $30,000.00 in additional premiums. In an attempt to conceal the fraud from investigators, Yates submitted a client’s application and premium to the insurance company several months after the client had already paid Yates for the insurance coverage,” states the press release.

To date it is alleged that Yates has fraudulently obtained over $14,000.00 in workers’ compensation premiums from his victims says the state.

The case is still under active investigation and it is anticipated that more victims and additional charges will be brought against Yates.

“If any business owner in the Franklin or Heard County area has purchased workers’ compensation insurance through the Yates Insurance Agency or if you are a general contractor that has received a certificate for workers’ compensation insurance from the Yates Agency, you are asked to contact the State Board of Workers’ Compensation’s Enforcement Division at (404) 657-7285 or (800) 533-0682,” adds the release.

The Enforcement Division encourages anyone who receives a certificate of workers’ compensation insurance coverage to verify the certificate either by using the State Board’s website or by contacting the insurance company directly.

All other lines of insurance coverage such as auto, home or general liability through Yates Insurance Services should be verified directly with the insurance carrier.

Michael Brad Yates

Workers’ Compensation fraud affects everyone.

To report suspected workers’ compensation fraud or an employer with no workers’ compensation insurance coverage you can call the State Board of Workers’ Compensation’s Enforcement Division at (404) 657-7285 or go to Board’s website at www.sbwc.georgia.gov and file a complaint on-line.

Brad Yates was released from the Heard County jail on $165,000 bond Wednesday, December 6.

Records indicate the bond was posted by Yates’ mother and former Heard County Commission Chair June Jackson.

Stay tuned to HeardCitizen.com for further information as it becomes available.

Comments

  1. Flo from Progressive says

    Shake my head. I gave him the name your price tool and this is what he does…

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