The Louisiana Department of Insurance says a Baton Rouge agent has been served with two cease and desist orders, and two fine notices, for alleged insurance fraud, bank fraud, issuing worthless checks, filing false public records, felony theft and identity theft.
John Shane Vaughn, a.k.a Aiden Bryce Adams, (37) was served on Feb. 1, 2010, with the C&D orders and two $50,000 fine notices.
He was arrested by the Louisiana State Police Insurance Fraud/Auto Theft Unit on May 29, 2009, and booked in the Livingston Parish Jail on one count of identity theft, one count of bank fraud, four counts of issuing worthless checks and one count of felony theft. He was then booked into Jefferson Parish Prison on one count of identity theft, one count of bank fraud and one count of felony theft. He was further booked into East Baton Rouge Prison on two counts of filing false public records, one count of identity theft and two counts of insurance fraud.
Vaughn is alleged to have stolen the identity of Aiden Adams and filed false public documents by submitting a fraudulent pre-licensing certificate and a fraudulent insurance producer application to the Department of Insurance. He is also alleged to have presented a materially false driver’s license and Social Security Number to obtain his agent appointment with the life insurance company, written an annuity policy secured by a worthless check in the amount of $212,000 and intentionally misappropriated fraudulently obtained premiums.
Department records show that John Shane Vaughn was issued a Life, Accident and Health license in January 2003 which was valid until the current action. Aiden Bryce Adams was issued a Life, Accident and Health license in November 2007 which lapsed in April 2008.
Vaughn, a.k.a Adams, has 30 days from the time of notice to file a written demand for an administrative hearing to contest the regulatory action taken against him by the Department of Insurance.
Source: Louisiana Department of Insurance
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