Insurance agent admits fraud

BILLINGS – A Billings insurance agent has pleaded guilty to issuing $160,000 in construction bonds on behalf of two insurance companies and keeping the premiums.

Michael D. Hutton, 59, also acknowledged Wednesday that he forged customers’ names on premium financing agreements to obtain loans purportedly to pay the customers’ insurance premiums.

Hutton, the principal of M.D. Hutton Insurance in Billings, pleaded guilty at his arraignment to wire fraud, mail fraud and money laundering.