Man Charged with Insurance Fraud

A Wilson County man has been arrested for insurance fraud.

State Insurance Commissioner Wayne Goodwin announced Monday the arrest of Albaro Luis Serrano, 31, of 336 Herman Lane Road, Stantonsburg. He is charged with one count of insurance fraud in Wake County.

Department of Insurance criminal investigators accused Serrano of filing a fraudulent affidavit for theft of a vehicle with North Carolina Farm Bureau Mutual Insurance Company after allegedly misleading the company when he applied for his insurance policy.

Serrano was arrested in Wilson County and placed under a $1,500 bond.

The Department of Insurance employs 20 sworn state law enforcement officers dedicated to investigating and prosecuting claims of insurance and bail bonding fraud. An estimated 10 cents of every dollar paid in premiums goes toward the payment of fraudulent claims.