Insurance agent Richard Valdriz, 52, has been charged with thirteen felony counts including identity theft, forgery, and grand theft after an investigation by the California Department of Insurance reportedly found that he had used the identity of policyholders to renew their auto insurance policies without their knowledge or consent to receive $4,555 in commissions.
Valdriz’s clients’ insurance policies had lapsed and they had not requested renewal, but Valdriz renewed his clients’ cancelled policies by electronically forging their signatures in order to submit and obtain a renewal of the insurance policy without his clients’ knowledge or consent.
Valdriz then reportedly submitted bogus premium payment receipts to the insurance carrier in order to collect commissions.
An arrest warrant was issued on Oct. 17, and Monday Valdriz turned himself into the Los Angeles County Superior Court.
The department is taking action against Valdriz’s license. This case is being prosecuted by the Los Angeles County District Attorney’s Office.
Topics California Agencies Fraud
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