The Louisiana Department of Insurance said a former Hammond insurance agent was arrested and issued a Cease and Desist Order for allegedly misappropriating insurance funds. DOI Fraud Unit investigators served Lee Ponder Yarborough, Jr., with a C&D order at the time he was arrested by members of the State Police Fraud Unit for misappropriation and theft. He is prohibited from engaging in any activity relating to the business of insurance, and is subject to fines and other penalties. Yarborough held a property and casualty insurance license from May 1986 until May of 2003 and a life and health license from March 17, 1998 until May 2002. Consumers who bought policies or conducted other insurance business, such as paying premiums, with Lee Ponder Yarborough, Jr. should call the insurance company to verify that they have the coverage they paid for. If they have trouble reaching the insurance company, they can call the Louisiana Department of Insurance at (225) 342-5900, or, toll-free statewide, (800) 259-5300.
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