NASHVILLE, Tenn. (WTVF) — Kelsey Ketron has agreed to a "voluntary revocation" of her insurance license and agreed to a $23,000 fine as part of a settlement with the Tennessee Department of Commerce and Insurance.
Ketron, daughter of Rutherford County Mayor Bill Ketron, was arrested last fall on dozens of charges including fraud and money laundering.
The criminal investigation was conducted following a NewsChannel 5 fraud investigation. Several customers said they paid for policies but when they filed claims, they discovered they had no coverage.
Customers like Susan Calvin told NewsChannel 5 Investigates they had paid Ketron and her family's insurance business in for insurance policies but when they had damage and filed claims, they discovered they had no coverage.
Ketron faces more than 70 counts in connection with her family's insurance business, Universal International Insurance. She's also accused of stealing more than $65,000 from her father's various campaign accounts and his political action committee. Her criminal trial is set to begin in April.
Both she and her father have pleaded not guilty in the case. Mayor Ketron is the representative of Universal International Insurance.
There's no official word yet on how or whether this new settlement will affect that criminal case. But now that she's settled one case, it will be no surprise if there is some sort of settlement announcement before the criminal trial get started in April. We reached out to the Ketrons' attorney, Trey Harwell, who insisted Kelsey did not admit to any wrongdoing in the settlement.
“We are pleased that the matters with the Tennessee Department of Insurance have been resolved, and this chapter is now closed. Given the criminal matter remains pending, we are not at liberty to comment any further," Harwell said in a statement.
According to the settlement terms, it will be paid out in equal amounts over four years. The entire settlement order can be read here.