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News: 2011 Press Release
For Release: November 21, 2011
Media Calls Only: 916-492-3566
Insurance Commissioner Dave Jones Announces Arraignment of Insurance Agent for Fraud
Agent Submits Bogus Long Term Care Insurance Applications
Insurance Commissioner Dave Jones today announced that Vincent Christopher Bellucci, 41, was arraigned in Ventura County on one count felony grand theft involving false insurance applications.
"Defrauding an insurance company out of thousands of dollars doesn't just hurt that company, it ultimately hurts consumers, as well," said Commissioner Dave Jones. "Individuals who perpetrate such crimes will be prosecuted to the fullest extent of the law."
According to investigators, from December 2009 until July 2010, Bellucci allegedly created and submitted bogus long term care insurance applications to Genworth Life Insurance Company. The applications contained false names, addresses and income information for the applicants. The Newbury Park agent was also charged with telephonically personating some of the insurance applicants when Genworth conducted follow-up personal history interviews.
When he submitted the phony applications, Bellucci received advanced commissions that he was not legally entitled to. Genworth lost more than $91,000. Bellucci's insurance license expired on August 31, 2011.
The California Department of Insurance, established in 1868, is the largest consumer protection agency in California, regulating the $123 billion insurance marketplace. In 2012 the California Department of Insurance received more than 160,000 calls from consumers and helped recover over $64 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. Out-of-state callers, please dial 213.897.8921. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.
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