Unlicensed Agent in California Nabbed for Allegedly Stealing $500K in Premiums

May 27, 2020

Unlicensed insurance agent Ai Ling Lee, also known as Linda Lee, 60, of Hacienda Heights, Calif., was arrested on nine felony counts of grand theft after allegedly stealing roughly $500,000 in clients’ insurance premium payments and failing to place adequate coverage for her clients’ small businesses.

An investigation by the California Department of Insurance found Lee, as owner/operator of Jubilee Insurance Services, allegedly acted as an insurance agent to steal half a million dollars in premium payments even though she was not properly licensed by the department.

Lee reportedly accepted premium payments from her clients to place liability, property or workers’ compensation insurance coverage for their small businesses. Lee failed to place insurance coverage or allowed the coverage to lapse for nonpayment leaving her clients’ small businesses, including restaurants, construction companies and biochemical companies at risk, according to the CDI.

In order to inflate premium payments and hide her alleged embezzlement, Lee reportedly altered declaration pages for several clients. The premium payments collected by Lee were either not remitted to insurance carriers or only partially paid. Lee also allegedly forged clients’ signatures on finance agreements in order to finance some of the insurance premiums without her clients’ knowledge or consent.

Lee was arrested on May 22, , and is scheduled to appear in court on Sept. 30. The case is being prosecuted by the white collar crime division of the Los Angeles County District Attorney’s Office.

The CDI issued a cease and desist order against Lee on Aug. 7, 2018, and revoked the Jubilee Insurance Services license on Dec. 1, 2018.

Topics California Agencies Fraud

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