Insurance Commissioner Jones Announces Guilty Pleas of Insurance Agent for Grand Theft
News: 2011 Press Release
Insurance Commissioner Dave Jones today announced that Christopher Luna, 23, a licensed insurance broker, pled guilty at the West Covina Courthouse to two felony counts of grand theft 487(a) PC. Luna was ordered to serve three years of formal probation, perform 90 days of Caltrans service, pay restitution of $74,238.00 and pay fines and penalties in excess of $280.00. This case was investigated by the California Department of Insurance (CDI) Los Angeles Investigation Division and Los Angeles County Sheriff Department. It was prosecuted by the Los Angeles County District Attorney's Office.
According to CDI investigators between March 2009 and February 2010 Luna, dba Chris Luna Insurance Agency in Hacienda Heights, received payments of $31,650.00 and $42,888.00 from a Property Management Company to pay for earthquake policies for two different homeowner associations (HOA). After receiving the payments Luna placed coverage for both HOA's with different insurance companies. However, Luna only submitted a portion of premiums to one insurance company and submitted no premium payments to the other insurance company. Both policies canceled for non-payment of premium.
The Property Management Company filed a complaint with the CDI after receiving the cancellation notices.
CDI has revoked Luna's license to sell insurance.
The California Department of Insurance, established in 1868, is the largest consumer protection agency in California, regulating the $123 billion insurance marketplace. In 2013 the California Department of Insurance received more than 170,000 calls from consumers and helped recover over $63 million in claims and premiums. Please visit the Department of Insurance web site at www.insurance.ca.gov. Non-media inquiries should be directed to the Consumer Hotline at 800.927.HELP or 213.897.8921. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.