Fraud of the Week
Agent Fraud – California
Amount – +$380,000
A former agent has been charged with eight felony counts of embezzlement, forgery, and false impersonation for stealing over $380,000 from fraudulent insurance policies. An insurance company claimed the woman issued a fraudulent commercial excess auto liability policy, and the woman was found to be pocketing premiums from various businesses, using the money for her personal use, and impersonating businesses in a private or official capacity. She issued a total of 15 fraudulent policies and five endorsements which resulted in premium theft of over $216,000. She also submitted finance agreements for three dissolved businesses in order to collect over $165,000, again using the funds for her personal gain. Her license has been revoked by the department.

