Licensed insurance agent Vlada Cruz, 40, of Encino, California, was arraigned on two felony counts of grand theft after a California Department of Insurance investigation found she allegedly stole over $37,000 in insurance premiums, leaving her client’s business uninsured.
The investigation began after the CDI received a complaint from one of Cruz’ clients alleging Cruz failed to forward their collected insurance premium to the insurance carrier during 2020 and 2021. Cruz’ actions reportedly resulted the client losing more than $37,000, and left the client’s business without insurance coverage for two years.
The evidence obtained during the investigation reportedly found that Cruz intentionally embezzled two policy premium payments over two years totaling $37,362. Cruz also reportedly issued fraudulent policy documents to her client.
The department is taking action against Cruz’ license. This case is being prosecuted by the Los Angeles County District Attorney’s Office.
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