California Insurance Commissioner Harry W. Low issued an Order of Summary Revocation dated April 5, 2001, revoking the insurance license of Allen Prasky. The revocation becomes effective May 5, 2001.
On March 14, 2001, in a plea agreement reached with the San Diego District Attorney’s Office, Prasky, 31, pled guilty to five felony counts of insurance fraud and one count of income tax evasion.
California Department of Insurance investigators allege that Prasky sold hundreds of fraudulent insurance policies to unsuspecting consumers, leaving hundreds of victims without valid automobile liability coverage and exposing California drivers to uninsured motorists. Sentencing is scheduled for June 15, 2001. If convicted, Prasky could face up to seven years in state prison and a $50,000 fine.
Topics California Agencies
Was this article valuable?
Here are more articles you may enjoy.
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
How Insurers Know When It’s Time to Scale AI 
NAIC Victim of Cyber Incident Via PeopleSoft System 
Mamdani Delivers Rent Freeze in Milestone for New York City Tenants 
