A Los Angeles insurance broker has been charged with four felony counts of grand theft for allegedly stealing an estimated $14,000 in premiums from his clients, according to investigators with the California Department of Insurance (CDI).
Jung Wo Kim, 37, who operated JK Insurance Services on Wilshire Boulevard, surrendered to the Los Angeles Police Department. He is suspected of allegedly defrauding the clients between June 2001 and Jan. 2003.
Kim could face up to four years in prison and be ordered to pay restitution if convicted on the charges. Bail was set at $80,000, and the case will be prosecuted by the Los Angeles County District Attorney’s office.
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