Young: Customers shouldn’t worry

Published 12:04 am Saturday, November 20, 2010

Harold Young of the South Central Agency said it’s “business as usual” locally, following the announcement he and former business partner John Tomberlin were indicted Thursday in a Pennsylvania loan fraud scheme.

Young said Friday he is the sole owner of the Andalusia-based insurance company.

“I bought out John on Oct. 26,” Young said. “He’s not associated with this company anymore.

“It’s business as usual,” he said. “Our contracts are solid. Insurance is fine, and this agency is fine. We’re getting caught up in a situation that we shouldn’t have been in, in the first place. With me being in business with John, I have to go through the same thing he is going through, but there is no need for our customers to worry.”

The two men, along with local logging equipment dealer John Wiley Spann, were named in a 32-page indictment from the U.S. Attorney’s Office alleging the three, along with five others with the Pennsylvania-based Equipment Finance LLC, conspired to steal $53 million in a massive loan fraud scheme.