A licensed agent and owner of First Class Insurance Agency, Robert Franklin, 35, of Los Angeles, was arrested and charged with two felony counts of grand theft.
Franklin allegedly sold fraudulent insurance policies to consumers and collected premiums without ever submitting the monies to the insurance companies, according to CDI investigators. He also allegedly issued phony ID cards. Franklin targeted African American consumers in the Los Angeles and Inglewood areas, and his activities left many victims without valid automobile liability coverage.
Franklin was booked into the Los Angeles County jail and his bail set at $40,000.
Topics Agencies
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