LA. AGENT ARRESTED:

A Ruston, La. insurance agent with expired licenses was issued a cease and desist order in the wake of his arrest on charges of felony theft and insurance fraud. According to the Louisiana Department of Insurance the arrest and C&D order actions were taken as part of the collaborative efforts of the LDI Fraud Unit and the Louisiana State Police Fraud Unit. John Hayden Hancock of Ruston (business) and West Monroe (residence), was served with an order to cease and desist from all insurance business activities by Department of Insurance Fraud Unit investigators. He had held a life and health insurance license from August 2000 to May 1, 2002, and a property and casualty license from December 1998 until May 1, 2003, according to DOI records. The department said the C&D order states that Hancock fabricated six bogus life insurance policies. He allegedly misappropriated more than $6,000 in commissions and bonuses on these policies, which were written on six persons who apparently knew nothing about them. LDI said policyholders who bought insurance from John Hayden Hancock or have reason to believe he may have submitted false insurance applications on them should call their insurance company directly. The Louisiana Department of Insurance can be reached at (225) 342-5900, or (800) 259-5300, from 8 a.m. to 5 p.m. weekdays for assistance.

Topics Agencies Fraud Louisiana