Fresno Insurance agent Ismael Flores Venegas, 34, has been arrested on felony counts of embezzlement by an agent and grand theft by embezzlement, the California Department of Insurance announced yesterday.
If convicted, Venegas could be sentenced to as many as four years in prison.
According to investigators, Ismael Flores Venegas allegedly perpetrated an embezzlement scheme while working for New Horizons Insurance Services from March 2006 through August 2008. Venegas allegedly collected $49,000 in premium payments from hundreds of applicants for auto liability insurance. Venegas then submitted the applicant’s paperwork to New Horizons Insurance Services, without the premium payments. New Horizons Insurance Services honored the premium payments and no clients were exposed to risk. After collecting cash from clients, Venegas allegedly pocketed the money for personal needs.
Venegas’ insurance license has been suspended.
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