Two insurance brokers, Jack Hagop Printsian, 62, and his son, Ara Kaspar Printsian, 28, were arrested at their Santa Clara home on Sept. 11.
The Printsians owned and operated Citadel Insurance Services. The company provided auto policies to consumers in the Valencia and Santa Clarita communities. When the consumers bought policies from Citadel, the Printsians sent only partial payments-and in some cases no payments-to the insurance companies.
According to the CDI Investigation Bureau, the consumers who were affected by the Printsian’s actions had to subsequently pay higher insurance premiums after the discovery that they had not been insured.
Administrative actions against the Printsians’ insurance licenses are pending.
Was this article valuable?
Here are more articles you may enjoy.
CopperPoint Insurance to Acquire Surety Specialist General Indemnity Group 
Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI 
US Efforts to End Iran War Stumble as Ship Seized Near UAE 
For Carriers, AI Can Now Mean Hyper-Personalized Customer Service, Leaders Say From This Issue
