Former bail bondsman must pay $54,000 in insurance fraud restitution
A man who used to sell bail bonds has been ordered to spend two months in federal prison and pay $54,625.50 in restitution after being convicted of insurance fraud.
Steven Dean Krier, 57, of Bridgewater, was sentenced by U.S. District Judge Karen E. Schreier on Oct. 22. Following the completion of his prison sentence, Krier will spend 30 months on supervised release. He was also ordered to pay a special assessment of $100 to the Federal Crime Victims Fund.
Krier did not turn over the premiums collected on more than 50 bail bonds he sold between July 7, 2014, and May 31, 2015, according to a press release from U.S. Attorney Ron Parsons. His restitution will be paid to the Sioux Falls company through which he sold the bonds.
He was indicted by a federal grand jury on May 9, 2017, and pleaded guilty on July 27 of this year.
The FBI investigated the case, and Assistant U.S. Attorney Jeffrey C. Clapper prosecuted. Krier was required to self-report to the custody of the U.S. Marshals Service by Monday.