Mike George Denno, 24, of Los Angeles, is scheduled for arraignment in Citrus Court on Oct. 1, 2002 on seven felony counts of insurance fraud. He was arrested following an investigation by the California Department of Insurance (CDI) Criminal Investigations Branch, which revealed Denno allegedly sold bogus insurance policies to unsuspecting consumers.
A licensed agent and owner of Beneficial Auto Insurance Services, Denno sold fraudulent insurance policies to consumers by collecting premiums and not forwarding them to an insurance company. He issued fraudulent documents to the unsuspecting consumers. Denno’s illegal activities left his victims unknowingly without valid automobile liability coverage and exposed California drivers to uninsured motorists.
Denno targeted Latino consumers in the Los Angeles, Pomona, La Puente and West Covina areas. CDI investigators suspect there are many more victims who have either not come forward or are unaware they are victims.