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Justice News

Department of Justice
U.S. Attorney’s Office
District of South Dakota

FOR IMMEDIATE RELEASE
Sunday, October 28, 2018

Bridgewater Man Sentenced for Insurance Fraud

United States Attorney Ron Parsons announced that a Bridgewater, South Dakota, man convicted of Insurance Fraud was sentenced on October 22, 2018, by U.S. District Judge Karen E. Schreier.

Steven Dean Krier, age 57, was sentenced to 2 months in federal prison, followed by 30 months of supervised release, and ordered to pay $54,625.50 in restitution to Dakota Bail Bonds, as well as a special assessment of $100 to the Federal Crime Victims Fund.

Krier was indicted by a federal grand jury on May 9, 2017.  He pled guilty on July 27, 2018.

The conviction stemmed from incidents between July 7, 2014, and May 31, 2015, when Krier was an employee of Dakota Bail Bonds of Sioux Falls.  Krier sold bail bonds on behalf of Dakota Bail Bonds, but did not turn over the premiums collected on over 50 bail bonds that he sold.  The bonds were guaranteed by Financial Casualty and Surety, Inc. based in Houston, Texas.  As a result, Krier willfully misappropriated over $50,000 of the funds and premiums of Dakota Bail Bonds and Financial Casualty and Surety.

This case was investigated by the Federal Bureau of Investigation.  Assistant U.S. Attorney Jeffrey C. Clapper prosecuted the case.

Krier has been allowed to self-report to the custody of the U.S. Marshals Service by October 29, 2018.

Topic(s): 
Financial Fraud
Component(s): 
Updated October 28, 2018