Former insurance agent Blanca Lidia Guzman, 40, of Palmdale, California, was sentenced in Los Angeles County Superior Court on Wednesday on one felony count of grand theft after pleading no contest for defrauding consumers.
Guzman reportedly stole more than $16,000 in premiums from the insurance company she worked for and her clients while leaving many of those clients without insurance coverage. She was sentenced to pay restitution and to complete 10 days of community labor.
An investigation by the California Department of Insurance began after receiving complaints from Guzman’s employer.
The investigation reportedly revealed that Guzman entered false information into the company’s database to avoid submitting client funds. She reportedly submitted fabricated proof of insurance documents to escrow companies in order to close the sale or refinance of the victims’ homes and then cashed the checks from the escrow companies that were issued for insurance.
Guzman also reportedly forged her clients’ e-signatures on insurance policy applications to place other policies at a much later date with another company without her clients’ knowledge. Her actions left several clients without insurance coverage and resulted in a theft of at least $16,128.
The CDI revoked Guzman’s license on Feb. 1, 2021. The Los Angeles County District Attorney’s Office prosecuted this case.
Topics California Fraud Agencies
Was this article valuable?
Here are more articles you may enjoy.
California Sees Two More Property Insurers Withdraw From Market 
JPMorgan Client Who Lost $50 Million Fortune Faces Court Setback 
Wildfires Are Upending Some of the Safest Bets on Wall Street 
Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers 
