California Agent Pleads No Contest to Felony Counts

November 26, 2001

A Stockton insurance agent pled no contest to four felony counts earlier this month in the San Joaquin Superior Court.

Kim Lorene Lawrence, 40, made the plea after being charged with 33 felony counts consisting of Residential Burglary, Theft from an Elder or Dependant Adult, Grand Theft, Theft of Funds by an Agent, and Unauthorized Insurance Transactions. Lawrence is alleged to have embezzled at least $700,000 from her clients between 1997-2001.

The charges were filed by the San Joaquin County District Attorney’s Office following a joint investigation with the California Department of Insurance (CDI) Investigations Bureau. Lawrence may face up to seven years in state prison. She will also be ordered to pay restitution to victims, though the amount has not been determined. Lawrence’s sentencing date is set for July 22, 2002.

According to the San Joaquin District Attorney’s Office, Lawrence, a licensed insurance agent, solicited victims to make an investment or purchase an annuity. She would subsequently divert some or all of the money to her own personal account. According to prosecutors, Lawrence’s motives stemmed from financial problems that arose due to her bad investments. Most of Lawrence’s victims were elderly clients.

Lawrence holds appointments with several insurance companies though investigators determined that most of her insurance business was allegedly written through “Direct Your Future Inc.”, “Financial Solutions” and “A Caring Hand”. None of these entities are authorized to act as an insurer in California.

CDI suspended Lawrence’s license in June of this year and is seeking a permanent revocation based upon the felony conviction.

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