The California Department of Insurance is looking into allegations of premium theft, embezzlement and other violations connected with the Redwood City, Calif.-based Wersching Insurance Agency, which is run by former San Francisco 49er football player Raimund Wersching.
CDI investigators served search warrants at the agency, as well as at the home of a former employee of the agency and at several other locations. They are examining allegations that more than $500,000 was paid to various Nevada casinos from Wersching agency funds and that an additional $500,000 was paid to Mary Anne Locke, aka Mary Ann Diaz, a former manager and partner in the agency.
Locke was reportedly licensed by the CDI in 1979, but was convicted in 1990 of embezzlement, premium theft and other fraudulent transactions and served a year in prison, according to the CDI.
Other allegations that investigators are looking into include the possible diversion/theft of agency monies, and the alleged transaction of insurance by unlicensed brokers/agents working for the Wersching Agency.
Topics Fraud
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