Life Insurance Salesmen Convicted on Felony Charges for Fraud
The Case of Life Insurance Fraud
Earlier this year, two life insurance salesmen were arrested in California and charged with multiple charges, including identify theft, insurance fraud, and forgery. It is alleged that two agents both in their thirties, were submitting fake life insurance policies to collect on commissions that they did not earn. The Los Angeles County District Attorney’s Office is prosecuting the case under the California Department of Insurance’s Life and Annuity Consumer Protection Program. If you or someone you know is a victim of life insurance fraud, call Evans Law Firm, Inc. today at 415-441-8669.
It is alleged that the two salesmen worked together to fabricate life insurance policies in the state of California and submit them—sometimes under their own licenses and sometimes under others’ licenses—to life insurance carriers. They then received commissions on the phony policies. In total the two allegedly netted $300,000 in commissions from their scheme.
The salesmen allegedly recruited individuals by offering them “free” life insurance policies and offering them money for their personal information. Some of the policies submitted also contained false net worth information, occupations, and included forged signatures.
Life insurance policies are tricky and often very difficult to understand. Consumers count on the agents themselves to put the consumer in the proper position, but sadly, that plan does not always pan out. It is important to keep your wits about you when speaking with potentially fraudulent agents and if you see anything suspicious, never be afraid to report your experiences.
If you or a loved one been the victim of life insurance fraud any California county, contact the Evans Law Firm life insurance fraud attorneys at (415) 441-8669, or by email at firstname.lastname@example.org. Our attorneys have experience with complex financial contracts and large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.