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Sunday, January 25, 2015

Insurance Fraud: California insurance broker ordered to repay victim

Today's post is shared from
A Marina man was placed on felony probation and ordered to pay victim restitution after pleading to two counts of theft of funds by a broker/agent and one misdemeanor count of identity theft, District Attorney Dean Flippo announced.
Ernie Morris, 45, was ordered to repay $33,444, Flippo said, after investigators determined that he was conducting insurance business without a license.
The investigation began after a complaint by the FirstComp Insurance Agency to the California Department of Insurance (CDI).
The investigation revealed that the defendant fraudulently obtained workers’ compensation insurance and auto insurance premiums from multiple clients and failed to remit the money to the insurance companies.
Flippo said the defendant claimed to have a license to sell insurance and then became partners with another individual who obtained a license. The defendant used his partner’s license in order to sell workers’ compensation and auto insurance policies to clients.
The defendant then deposited the victim’s money into his own personal and single business account without obtaining the policies and diverting the money for his own personal use.
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