Statement of the Iowa Attorney General's Office
Criminal Charges Filed
Statement of Iowa Attorney General Tom Miller:
Criminal charges were filed by the Attorney General's Office Tuesday in Linn County District Court naming Terry G. Frey of Cedar Rapids (date of birth 7-4-55). The charges are:
Frey turned himself in Tuesday afternoon and had his initial appearance and arraignment before Judge Thomas Horan. Frey was released on his own recognizance under supervision of the Dept. of Correctional Services Pretrial Release Division. Trial was set for September 8.
In January and February, the State Insurance Division issued cease-and-desist orders and a statement of charges alleging that while working as an insurance agent Frey misappropriated funds of a client and engaged in improper sales practices.
On January 23 a search warrant was executed in the criminal matter at 413 Parkland Drive SE in Cedar Rapids, the residence and office of Terry Frey, doing business as Partners 4 Life, Inc.
State prosecutors also filed a "restitution victim lien" in Linn County District Court Tuesday, to preserve the assets of Terry G. Frey for payment of restitution. The filing said the State alleges $167,462 was taken from one client and $5,000 from another by Frey's criminal activities, and that the State will seek restitution. The lien listed property including Frey's home at 413 Parkland Drive SE in Cedar Rapids, office equipment, and checking and savings accounts and other financial assets.
The matter is being coordinated by the Attorney General's Office in conjunction with the Linn County Attorney's Office.
State agencies involved in the investigation include the State Insurance Division of the Iowa Dept. of Commerce, and the Division of Criminal Investigation of the Iowa Dept. of Public Safety.
Agencies assisting in the matter also include the Linn County Sheriff's Office, the Cedar Rapids Police Dept., and the Iowa State Patrol.
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