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Insurance agent charged with multiple counts of embezzlement, fraud

Courtesy of the Office of Attorney General Jim Hood.

Attorney General Jim Hood has announced the arrest of 54-year-old Charles Myrick Winstead on multiple charges including wire fraud and multiple counts of embezzlement.

Winstead, of Terry, was arrested at his home Friday by deputies with the Madison County and Hinds County Sheriff’s Departments. An investigation led by Investigator Jerry Spell with the Attorney General’s Insurance Integrity Enforcement Bureau found Winstead was embezzling and converting money for his own use as a licensed agent for Nationwide Insurance Company. A Madison County Grand Jury indicted him for allegedly embezzling more than $25,000. He is charged with two counts of embezzlement and one count of wire fraud. He was booked into the Madison County Sheriff’s Department without bond set pending his initial appearance, which is scheduled for Wednesday.

If convicted on all three counts, Winstead faces up to 35 years in prison and $60,000 in fines.

Special Assistant Attorney General Steven Waldrup with the AG’s Public Integrity Division will prosecute this case.

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