Hole-in-won.com insurance company facing felony charges for not paying

Updated: June 4, 2012

A company called hole-in-won.com is again in the news and in trouble. It seems to be a repeating scenario of not paying the winners and not registering with the states they are doing business in.

In 2010, Montana resident, Troy Pessig aced a 170-yard shot during a hole-in-one contest that he though won an $18,000 prize in a charity golf tournament. But, after two years he’s still hasn’t seen a dime from hole-in-won.com.

Monica Lindeen, the Montana commissioner of securities and insurance has taken a hardline and issued felony charges against Kevin Kolenda, the owner of hole-in-won.com. Lindeen’s office stated that they are moving aggressively in order to stop Kolenda from selling insurance without a license to do so. The state has issued an arrest warrant against Kolenda for failing to pay on a policy purchased by the Missoula tournament.

Peissig is a former golf teacher with a young family and said the money would be fantastic but isn’t counting on getting the money at this point.

North Carolina, Washington, Massachusetts, Texas, Nevada, Alabama, Virginia and Oregon have all issued cease and desist orders barring the company from selling insurance in their states.