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Hagadone Has Insurance License Suspended By Commissioner

Wolf Point native Kileen Hagadone, who now resides in Forsyth, has seen her insurance producer license temporarily suspended by the Montana State Insurance commissioner, according to a report by Q2 News in Billings.

The report states that Insurance Commissioner Troy Downing has temporarily suspended the licenses of Hagadone and Rosebud County Insurance in Forsyth. Downing noted public safety and welfare required an emergency suspension while an investigation takes place.

Q2 News reports that court documents allege that Hagadone received payments from clients to cover insurance premiums, but she never directed them to the insurance provider. The insurance commissioner’s office alleges that Hagadone forged signatures and misappropriated hundreds of thousands of dollars from clients throughout Rosebud County.

Hagadone hasn’t been criminally charged as of late last week.

Q2 News reports that witnesses say they gave more than thousands of dollars to Hagadone for insurance premiums only to find out those payments were never delivered or only paid in part. One witness claimed that Hagadone financed a loan in his name for a premium that he thought he had paid in full to a different insurance agency.

One of the largest alleged victims in the ordeal is Chief Dull Knife College. The school gave Hagadone annual insurance premiums two years in a row totaling nearly $200,000 that were never delivered. Instead, the full amount was financed and monthly payments were agreed upon without the college’s knowledge. Q2 News reports that according to court documents, Hagadone never delivered the college’s full premium and instead forged loan documents for the roughly $200,000 owed for insurance in 2021 and 2022. The loan underwriter received a notice from Hagadone in December 2021 that the premiums would be financed, not directly paid by the college. Then in January 2022, the underwriter received a notice from the lender to cancel the policy due to nonpayment, even though the college did not know monthly loan payments were required.

Last week, a district court judge placed an injunction on Hagadone and Rosebud County Insurance to prohibit any new business activities.

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