Ex-Iowa Insurance Agent Charged With Forgery, Fraud Sales Theft

Joseph Drahozal, age 57, of Cedar Rapids was charged with one count of Forgery (Class D Felony), two counts of Fraudulent Sales Practice under $10,000 (Class D Felony), and one count of Theft in the third degree (Aggravated Misdemeanor) following an investigation by the Iowa Insurance Division’s Fraud Bureau.

The charges against Drahozal stem from an investigation that began in August of 2022. According to the criminal complaints filed by the Iowa Insurance Division’s Fraud Bureau, while Drahozal was working as an insurance producer, he intentionally took possession of funds intended for the accounts of his insurance clients and put those funds into his personal account for his own use. He also forged his information onto checks belonging to clients to steal funds.

Drahozal was placed under arrest and taken to the Linn County Jail on November 28, 2022. He was released after posting a $10,000 bond.

Source: Iowa Insurance Division


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