• Investment
  • Insurance
  • Finance
  • Internet
  • Technology
  • 200Mbps
Trending
  • McGriff Adds Feighl as Commercial Marketing Account Exec; Harris Joins Alliant in Texas
  • 3 China-based EV Stocks to Buy in February 2022
  • Inspector General Says Counterfeit Parts in Nuclear Plants Raise Safety Concerns
  • What will the Google stock split mean for investors?
  • New Task Force to Review Event Safety in Wake of Astroworld Festival
  • Cyber Criminals Nabbed $1.3B in Ransom Payments Over 2 Years: Report
  • Unlicensed California Agent Sentenced for $1.4M Insurance Fraud
  • The 3 Top Dividend Aristocrats For Long-Term Investors
MERDEKA MERDEKA
  • Investment
  • Insurance
  • Finance
  • Internet
  • Technology
  • 200Mbps
MERDEKA MERDEKA
You are at:Home » Unlicensed California Agent Sentenced for $1.4M Insurance Fraud
Insurers Deploy Predictive Analytics, Artificial Intelligence in Fraud Fight

Unlicensed California Agent Sentenced for $1.4M Insurance Fraud

0
By admin on November 18, 2022 Insurance

Unlicensed insurance coverage agent Karyl Lynn Reed, 58, previously of Cosa Mesa, California, was convicted final week on a number of felony counts of embezzlement and white-collar fraud enhancements after defrauding three victims of over $1.4 million.

Reed was sentenced to 4 years in jail and ordered to pay greater than $1.4 million in restitution.

Reed was arrested final yr in Seabrook, Texas, and was arraigned on Oct. 27, 2021, in Orange County after she was extradited.

An investigation by the California Division of Insurance coverage reportedly discovered that between 2012 and 2019, Reed acted as an insurance coverage agent and not using a license and picked up premiums for staff’ compensation insurance coverage via her companies, Envoy Enterprise Companions and Allenn Specialty Group. She would offer her victims with fraudulent certificates of insurance coverage, inflicting her victims to consider they’d legitimate protection when there was really none.

The investigation reportedly found Reed additionally operated a staffing firm with out legitimate staff’ comp protection and personally adjusted and administered worker damage claims. She collected staff’ comp premiums and payroll, employer and worker taxes from victims, and supplied them with falsified certificates of insurance coverage as properly main them to consider they have been coated once they weren’t.

The CDI’s investigation confirmed that one sufferer didn’t have staff’ comp protection for an worker who grew to become injured. One other sufferer reportedly had requested an up to date certificates of insurance coverage from their insurance coverage firm and have been advised no coverage or protection was in place and discovered the coverage quantity Reed had supplied them belonged to a coverage for an additional enterprise.

The CDI investigation additional revealed one other sufferer who found the cash they have been paying Reed to her staffing service was not being remitted to the insurance coverage firm.

The case was prosecuted by the Orange County District Lawyer’s Workplace.

Matters
California
Agencies
Fraud

All for Businesses?

Get automated alerts for this subject.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleSuit by 3 Students Alleges Harvard University Ignored Sexual Harassment
admin
  • Website

Related Posts

McGriff Adds Feighl as Commercial Marketing Account Exec; Harris Joins Alliant in Texas

Higher Fees Don’t Disqualify a Workers’ Comp Treating Physician, Florida Appeals Court Finds

Washington Businesses Fined After 250 Workers Contract Virus in Same Warehouse

Leave A Reply Cancel Reply

YOU MAY INTEREST
April 29, 2022

Former California Insurance Agent Sentenced for Stealing Premiums

September 10, 2022

Baby Step 1: Your Budgeting Guide

October 19, 2022

Low-Income Residents Face Higher Risk of Deadly Fires Like New York Apartment Blaze

October 19, 2022

California DMV Reevaluating Approach to Regulating Tesla’s Public Self-Driving Test

February 25, 2022

Flash Floods Threaten 126,000 Commercial Buildings in London, and Risk Will Worsen

Copyright © 2022 Merdeka
  • About
  • Contact
  • Sitemap
  • Disclaimer
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.

Next Up

Previous
Suit by 3 Students Alleges Harvard University Ignored Sexual Harassment

Three Harvard College graduate college students mentioned in a federal lawsuit filed Tuesday that the Ivy League faculty for years…

Random
Millennials and Retirement | RamseySolutions.com

STUDY SUMMARY 58% of Millennials are at the moment saving for retirement. Millennials are as prone to know the way…