Arturo Lopez, 39, of La Puente, Calif. was arrested on a felony warrant charging him with five counts of false or forged insurance documents.
The California Department of Insurance (CDI) investigation revealed that Lopez reportedly operated as an unlicensed broker in Pomona and La Puente.
He allegedly collected $3,500 in insurance premiums. Lopez reportedly did not send the collected premiums to any identifiable insurance companies and issued bogus insurance I.D. cards to unsuspecting consumers.
Lopez’s alleged illegal actions exposed consumers to the risk of substantial financial loss in the event of an accident.
One known victim reportedly suffered a loss of more than $10,000 following an auto accident because no valid insurance coverage was in effect.
Topics California Agencies
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