There are criminals, and then there are criminals who put the lives and livelihoods of their victims at risk.

File Isidro Santillan, a one-time insurance agent from Pacoima, Calif., in the later category.

The California Department of Insurance reported on Monday that Santillan had been arrested in August and charged with 13 counts of grand theft and commercial burglary, with a total haul of over $100,000. His crime seems almost too simplistic to actually work: Santillan allegedly sold insurance policies and bonds to local contractors and simply never forwarded the premiums they paid to the insurance carriers.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.