View this article online: https://www.insurancejournal.com/magazines/mag-fraud/2005/12/05/63469.htm
A former Beverly Hills, Calif., insurance broker has been arrested and charged with one count of grand theft after an investigation by the California Department of Insurance (CDI) Investigation Division. CDI Investigators arrested Gregory Starrett Williams, 53. If convicted, he faces a maximum of three years in prison.
According to investigators, Williams, who owned Roger Starrett Williams Co., sold an errors and omissions policy to the owner of a local casting agency and subsequently collected $79,634.36 during a five-year period beginning in 1997. The owner of the casting firm received annual invoices and paid premiums to Williams’ Co., yet Williams allegedly never placed the coverage or forwarded premium payments to an insurance company.
Gregory Starrett Williams purchased the company in 1995, and the casting agency had been a client with the company for many years. In 2003, the casting agency’s office manager reviewed company files and discovered that there was no insurance coverage placed by Williams.
According to the office manager, she confronted Williams about the problem. Williams allegedly confessed to her that coverage was not placed and then promised to make payments to the casting agency. When he failed to make the payments, the office manager filed a complaint with the CDI, which initiated the investigation.
The Los Angeles County District Attorney’s Office is prosecuting the case and bail is set at $79,000.