SPENCER, Idaho – The mayor of Spencer, Idaho, David Dwayne Price, 62, has been charged with felony insurance fraud, stemming from a 2024 incident in which his boat ran aground on a sandbar. A summons was issued on February 13, 2026, and served on Wednesday, requiring Price to appear for an initial hearing in Idaho Falls on Friday, according to authorities.
The charges allege that Price misrepresented the purchase price of his 2006 Northwest Jet Boat to Farm Bureau insurance following the April 20, 2024, incident in Hells Canyon. Court documents filed by an investigator with the Idaho Department of Insurance detail the discrepancies. Price initially claimed he was en route to Hells Canyon when the boat struck a sandbar.
A repair estimate from Precision Inc., received by Farm Bureau on July 15, 2024, totaled $149,793.20, leading the insurance company to declare the boat a total loss. Farm Bureau offered Price settlement options, with a maximum all-cash value (ACV) of $110,000, retaining ownership of the vessel.
The investigation was prompted by questions regarding the boat’s original cost. On July 25, 2024, a Farm Bureau claims supervisor learned from the agent handling the claim that Price might possess a bill of sale. The supervisor stipulated that the settlement offer was final unless Price could substantiate the boat’s value with documentation of add-ons or comparable sales.
On July 31, 2024, the agent submitted a handwritten bill of sale indicating Price purchased the boat from Neal Andrus on January 12, 2022, for $215,000. But, a subsequent investigation by a Farm Bureau special investigator, who located Andrus through the Department of Motor Vehicles, revealed a different account. Andrus stated he sold the boat to Price for $86,500. DMV records corroborate a sale price of $20,000 on the same date.
According to the Idaho Department of Insurance investigator, Price’s conflicting statements constitute a violation of Idaho Code regarding insurance fraud. If convicted, Price faces a potential prison sentence of up to 15 years and fines exceeding $15,000.
Price, who was sworn in as mayor of Spencer in Clark County in January 2026, declined to comment on the charges. His attorney, Ronald Swafford, has not yet responded to requests for comment. Spencer, Idaho, had a population of 19 residents as of 2024 US Census Bureau data.
The investigation remains ongoing, and Price is presumed innocent until proven guilty in a court of law.
