Traverse City Insurance Broker Expected to Plead Guilty in Fraud - Northern Michigan's News Leader

Traverse City Insurance Broker Expected to Plead Guilty in Fraud

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An Insurance Broker from Traverse City is expected to plead guilty today, to fraud.

Prosecutors say, William Lowder convinced elderly clients to change their investments and put money into annuities handled by his office. 

They say over an 8-year-period, his clients lost more than $1 Million.

State Regulators suspended his license and say that at least one client he took advantage of was not mentally competent.

He was charged last week in Federal Court.