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.
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