Former Ventura County Agent Sentenced in Theft Case
News: 2012 Press Release
SACRAMENTO - Insurance Commissioner Dave Jones announced today that Vincent Christopher Bellucci, 42, of Newbury Park was sentenced to serve a term of 365 days in county jail and placed on five years of formal probation. In addition, he was ordered to pay restitution of $69,003.62 and fines and penalties in excess of $2,000.
"Agents who prey on insurers will be brought to justice," said Commissioner Dave Jones. "I commend the investigators and prosecutor for ending the illegal practices of this unscrupulous former agent."
According to investigators from the California Department of Insurance (CDI), from December 2009 through July 2010, Bellucci created and submitted bogus long term care insurance applications to an insurer. The applications contained false names, addresses and income information for the applicants. The investigation revealed that he also telephonically impersonated some of the insurance applicants when the insurer conducted follow-up personal history interviews.
Upon submission of the phony applications, he received advance commissions that he was not legally entitled to. The aggregate loss suffered by the insurer was found to be in excess of $82,000. On September 24, 2012, Bellucci pled guilty in Ventura County Superior Court to one felony count of grand theft and admitted a special allegation that he stole property with a value exceeding $65,000.
Bellucci's insurance license expired on August 31, 2011.
This case was investigated by the CDI Valencia Investigation Division and prosecuted by the Ventura County District Attorney's Office.
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.