agent insurance fraud News

Iowa Revokes License of Arizona Insurance Agent Over Annuity Fraud Scheme

An Arizona insurance agent has lost his Iowa insurance license and is barred for reapplying for 10 years after the Iowa Insurance Division found he fleeced elderly Iowa residents. The division said in a news release that Mark Diamond, of …

Former Texas Agent Gets 5-Year Sentence for Selling Fake Insurance Policies

A San Antonio woman pleaded guilty to fraud after a Texas Department of Insurance (TDI) investigation found she pocketed money from clients who thought they were buying home policies. Cynthia Olague, a former insurance agent, stole premiums from more than …

Michigan Fines Agent $25K, Revokes License in Auto Insurance Fraud Case

A Michigan agent has been fined $25,000 and had his insurance license revoked after an investigation revealed he had been creating and selling fake auto insurance certificates, the state’s insurance regulators say. The Michigan Department of Insurance and Financial Services …

2 Charged With Selling Fake Insurance in Michigan

Two people in Michigan face felony charges filed by the state’s attorney general for allegedly selling fraudulent insurance to customers. The charges are the result a joint investigation by the Child, Elder, and Family Financial Crimes Division at the Michigan …

Iowa Insurance Agent Arrested, Charged with Fraud

The Iowa Insurance Division reported that a Madrid, Iowa, insurance agent has been charged with fraud after an investigation by the division’s fraud bureau. The IID said Joy Marie Heldt, age 48, was charged with Fraudulent Submissions (Class D Felony). …

Former Texas Agent Gets Life Sentence for Insurance Scam

A former Lubbock, Texas, insurance agent has been sentenced to life in prison and ordered to pay back $810,000 to his victims, the Texas Department of Insurance (TDI) reported. Officers with the Texas Department of Insurance Fraud Unit found that …

Former Nebraska Insurance Agent Gets Prison Sentence for Stealing Clients’ Money

Nebraska judge has sentenced a former insurance agent to at least six years in prison for bilking clients out of nearly $160,000, saying he felt “heartsick” for the victims. The Lincoln Journal Star reports the Lancaster County judge noted on …

Illinois Insurance Agent Sentenced to 5 Years for Fraud Scheme

A Decatur, Ill., independent insurance agent has been sentenced to 63 months in federal prison for defrauding his clients, the U.S. Attorney’s Office for the Central District of Illinois reported. Chief U.S. District Judge James E. Shadid sentenced James P. …

Tennessee Announces Disciplinary Actions Against 2 Insurance Agents

The Tennessee Department of Commerce & Insurance (TDCI) announced disciplinary actions against two Tennessee licensees for several violations including the knowing misappropriation and conversion of moneys and property; failure to report criminal prosecution pretrial hearings to TDCI; violating laws of …

2 Miami Residents Accused of Conducting $200K in Illegal Insurance Transactions

The Florida Department of Financial Services’ Division of Insurance Fraud (DIF) announced the arrests of Miami residents Alina Del Prado, 60, and Karla Patricia Figueroa, 40, who are accused of deceptively using unsuspecting licensed insurance representatives’ licenses to defraud Florida …