Former California insurance coverage dealer accused of stealing premiums, leaving prospects uninsured

A former insurance coverage dealer from Yorba Linda has been arrested and charged with 81 felony counts after investigators stated he collected premiums from prospects however failed to supply protection and solid their insurance coverage paperwork, California Division of Insurance coverage officers stated.

Juan Carlos Martinez, 56, a former insurance coverage dealer whose license expired in 2016 for failure to resume, operated Leeds Insurance coverage Providers Inc., which was based mostly out of Orange.  He has been accused of embezzling greater than $27,000 from his prospects, in accordance with a information launch from the company this week.

Martinez can also be accused of diverting the funds to a private funding account, which he allegedly used to withdraw as money.

He has been charged with 12 counts of grand theft, 34 felony counts of forgery, 34 counts of insurance coverage fraud and one rely of cash laundering. Prosecutors allege his misconduct dated to 2011, court docket information present.

It was not instantly identified what number of victims there have been or how lengthy Martinez was working his enterprise.

Martinez was arrested by the Buena Park Police Division and booked into Orange County Jail, however launched on bail. His arraignment is ready for March.

Related posts