Local mayor charged with insurance fraud after allegedly lying about the price of his boat
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SPENCER — The mayor of Spencer has been charged with a felony after allegedly lying about the price of his boat to insurance agents after he crashed it onto a sandbar in 2024.
David Dwayne Price, 62, is charged with felony insurance fraud in Bonneville County.
Price was sworn in as the mayor of Spencer in Clark County in January 2026. According to 2024 data from the US Census Bureau, 19 people live in Spencer.
According to court documents filed by an investigator with the Idaho Department of Insurance, Price filed a claim on April 29, 2024, for his 2006 Northwest Jet Boat with a Farm Bureau agent.
Price reportedly stated he was heading to Hells Canyon and ran into a sandbar on April 20.
On July 15, a Farm Bureau claims supervisor received a repair estimate from Precision Inc. totaling $149,793.20, which resulted in the boat being determined a total loss.
The Farm Bureau supervisor offered multiple price settlement options, with the highest one being an all-cash value (ACV) of $110,000, and Farm Bureau would keep the boat.
On July 25, the supervisor spoke with the agent, who said that Price may have a bill of sale for that boat. The supervisor informed the agent that the settlement offer was final unless Price could provide proof of add-ons or comps that were the same model and trim as the boat.
On July 31, the agent received a handwritten bill of sale that had been forwarded to the supervisor, which stated Price had purchased the boat from Neal Andrus for $215,000 on Jan. 12, 2022.
On Aug. 1, a special investigator with the Farm Bureau spoke with the prior owner of the boat after finding him through the Department of Motor Vehicles.
The former owner said he sold the boat to Price for $86,500. The DMV paperwork stated that the boat was sold for $20,000 on Jan. 12.
According to the investigator, Price violated Idaho Code by lying about the price he paid for his boat.
A summons was issued for Price on Feb. 13, 2026, and was served on Wednesday. He is expected to appear for an initial appearance in Idaho Falls on Friday.
If convicted, Price could face up to 15 years in prison and fines totaling over $15,000.
EastIdahoNews.com reached out to Price, who declined to give a comment at this time. We also reached out to his attorney, Ronald Swafford, but have not heard back.
Though Price has been charged with these crimes, it does not necessarily mean he committed them. Everyone is presumed innocent until they are proven guilty.