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Department Arrests Bail Bond Agent for Stealing Premiums and Collateral


WEST PALM BEACH -- Department of Insurance fraud investigators have charged Davey Brent Locke, an area bail bond agent, with organized fraud, grand theft and failure to return bail bond collateral. Locke surrendered late yesterday at the Palm Beach County Jail to investigators with the department's Division of Insurance Fraud.

The department's investigators allege that Locke, 44, of W.A.R. Locke Bail Bonds, 2300 Executive Drive, collected more than $26,000 in bail bond funds that he never forwarded to either his supervising bail bond agent or to Lexington National Insurance Company, which underwrote the bail bonds.

Additionally, investigators identified four of Locke's clients who are owed more than $5,000 in collateral that was never returned to them after their cases were discharged by the courts.

Locke was licensed as a bail bond agent in March 1999. In November 2001, based on an investigation conducted by the department's Bureau of Agent and Agency Investigations, the department suspended Locke's bail bond license for mishandling funds. He was also fined $2,000. His bail bond license is suspended.