Louisiana Attorney General Charles C. Foti, Jr., announced that Phyllis Malveaux Breaux of Lafayette, a former licensed insurance agent, pled guilty on June 27, 2005, to felony theft over $500 before Judge Jules Edwards in the 15th Judicial District Court.
According to the AG’s office, Breaux sold insurance to customers and then pocketed their premium payments, rather than forwarding them to insurance companies.
Breaux was placed on one-year active supervised probation and ordered to pay restitution in the amount of $2,128.54. She is also permanently banned from the insurance business, having been ordered not to apply or reapply for an insurance license in Louisiana or any other jurisdiction.
The Attorney General’s Office is a member of the Insurance Fraud Task Force, which includes the Louisiana State Police and the Louisiana Department of Insurance.
Was this article valuable?
Here are more articles you may enjoy.
Sources: US Treasury to Consult With Insurance Regulators on Private Credit Lenders 
Depreciation on ACV Is OK, Court Says in Knocking Down Class Action vs. Cincinnati 
Viewpoint: California’s Surplus Lines HO Market Driven by Access, Not Wildfire Risk 
More Insurance M&A Deals on the Horizon? 
