OLYMPIA, Wash. – Edward J. Chadwick, of Yakima, was charged with first-degree theft in Spokane County Superior Court after an investigation by Insurance Commissioner Mike Kreidler’s Criminal Investigations Unit (CIU).
Chadwick was an insurance producer and owned an insurance agency called Kelt, primarily selling insurance to transportation companies. He is accused of fraudulently obtaining 24 insurance premium finance loans totaling $2.8 million from April 2016 through July 2018 from Tepco, a premium finance company based in Spokane. He is accused of obtaining loans on behalf of several fake trucking companies for commercial policies that didn’t exist. He also obtained loans on behalf of a former client, also a trucking company, without the client’s knowledge.