Robert Henning, 56, a former life insurance agent residing in Auburn, Calif., has been arrested for a $20,000 grand theft and embezzlement scam.
According to California Department of Insurance investigators, Henning sold his victim a $20,000 certificate of deposit investment. Instead of investing the victim’s money, Henning allegedly pocketed the funds he would later use as a down payment on an Auburn home.
Henning was a licensed life insurance agent until 2004. At that time, Henning was prosecuted and accepted a felony plea bargain for an unrelated criminal case. As a requirement of the plea bargain, he was required to relinquish his insurance license. In the course of their business transaction, Henning provided a business card to his victim that included his then expired CDI license number. After the victim’s investment term ended, he did not receive his money from Henning, and filed a complaint with CDI. The victim’s complaint sparked the investigation that revealed Henning’s alleged illegal behavior.
The San Francisco County District Attorney’s Office is prosecuting this case. Henning’s arraignment is scheduled for August 13, 2007.
Source: CDI
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