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CA Department of Insurance

Former insurance broker found guilty of grand theft

News: 2015 Press Release

For Release: June 9, 2015
Media Calls Only: 916-492-3566
Email Inquiries: cdipress@insurance.ca.gov
Former insurance broker found guilty of grand theft
Ordered to pay restitution and perform community service

LOS ANGELES, Calif. -Yesterday, Yesenia ­Oquendo, 36, of La Puente, was ordered to three years of formal probation, restitution in the amount of $2,374 and 40 days of community labor. Last month Oquendo was found guilty of grand theft for stealing insurance premium payments.

Working as a licensed broker at an insurance agency in 2012, Oquendo accepted auto insurance payments from several clients, but used the money for personal expenses instead of sending it to the insurance companies. To conceal the scheme, she issued false insurance documents to her clients, who thought they were covered, only to discover they were not insured.

The Department of Insurance opened an investigation after the insurance agency where she was employed began receiving complaints from consumers. Some policies were cancelled while others received DMV notices threatening to suspend their license for not carrying insurance.

"Oquendo violated her fiduciary responsibility as a trusted insurance broker to scam consumers," said Insurance Commissioner Dave Jones. "Oquendo's theft left policyholders exposed to significant financial risk, leaving them liable and without coverage."

Oquendo's insurance license was not renewed after it expired on December 31, 2012. This case was prosecuted by the Los Angeles County District Attorney's Office.

 

Media Notes:

  • Alias is Yesenia Amaya (Yessy).
  • The court found Yesenia Oquendo guilty May 7, 2015.




The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $289 billion in premiums annually in California. Since 2011 the California Department of Insurance received more than 1,000,000 calls from consumers and helped recover over $394 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.

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