West Covina, Calif. Ins. Agents Arrested for Grand Theft

Investigators with the California Department of Insurance (CDI) Criminal Investigations Branch arrested two local insurance agents for selling bogus insurance policies.

Jouly R. Kassis, 20, and Mike George Denno, 24, co-owners of Low Cost Auto Insurance Services, were arrested and booked into the Los Angeles County Jail. Kassis was arrested and charged with multiple felony counts of grand theft. Her bail was set at $500,000.

Denno was previously arrested by the Criminal Investigations Branch for numerous counts of grand theft and plead guilty in Pomona Superior Court on Nov. 26, 2002. It was determined during the investigation of Kassis that Denno continued to sell bogus insurance policies violating his probation. He was re-arrested for grand theft and bail is being set at $1 million. The Los Angeles District Attorney’s Office is prosecuting both cases.

According to CDI Investigators, both Kassis and Denno allegedly sold hundreds of fraudulent insurance policies to unsuspecting consumers, primarily in the Hispanic community. They collected premiums and never submitted the monies to the insurance companies. Kassis’ and Denno’s illegal activities left hundreds of victims unknowingly without valid automobile liability coverage and exposed California drivers to uninsured motorists.

Topics California Fraud Agencies