Tuesday, August 9, 2022

Former California Insurance coverage Agent Sentenced for Stealing Premiums

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Previously licensed insurance coverage agent Narek Harutyunyan, 31, of Camarillo, California, was sentenced this week in Ventura County Superior Court docket on two felony counts of grand theft after Harutyunyan reportedly stole insurance coverage premiums from shoppers, leaving them uninsured and one enterprise proprietor with an uninsured loss.

The fees had been decreased to misdemeanors after Harutyunyan paid $8,085 in restitution, and he was additionally ordered to pay $150 to the state restitution fund, positioned on probation for one 12 months, ordered to serve someday in jail, and ordered to not have interaction in any insurance coverage kind employment. The California Division of Insurance coverage revoked Harutyunyan’s agent license and the license for his enterprise, First and Final Insurance coverage Companies, on Oct. 18, 2021.

An investigation by the CDI reportedly revealed that between September 2016 and July 2017, Harutyunyan, whereas a licensed insurance coverage agent, doing enterprise as First and Final Insurance coverage Companies in Camarillo, stole industrial premium funds he collected from his shoppers and diverted these funds for his personal private use.

One shopper’s industrial coverage for a truck was not legitimate when it was concerned in an accident, leaving the enterprise proprietor with an uninsured lack of greater than $6,398 and a third-party declare of $107,764.

The Ventura County District Legal professional’s Workplace prosecuted the case.

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Subjects
California
Companies
Fraud

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