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CA Department of Insurance

Former Sac area agent embezzled over $100K from elderly mother’s trusts

News: 2016 Press Release

For Release: October 10, 2016
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Former Sac area agent embezzled over $100K from elderly mother’s trusts

SACRAMENTO, Calif. — Christine Ann Cooper, 64, a former licensed insurance agent, pleaded nolo contendere to one felony count of embezzlement, forgery, fraud or identity theft from an elder or dependent adult and one felony count of grand theft of property after embezzling approximately $129,000 from her mother's trust accounts over a nine-year period. Cooper was sentenced to 18 months in jail, five years' formal probation, and ordered to pay $60,000 in restitution.

"Insurance agents and brokers who prey on elders are particularly loathsome," said Insurance Commissioner Dave Jones. "Cooper violated her fiduciary responsibility and trust when she stole these funds. Her crime is particularly egregious because she took advantage of her own mother."

After receiving a complaint, the California Department of Insurance Investigation Division launched a joint investigation with the Rocklin Police Department revealing that, as her mother's trustee, Cooper wrote checks to herself from the trust accounts and falsified trust statements to conceal her thefts.

Cooper was arrested at work by the Rocklin Police Department. This case was prosecuted by the Placer County District Attorney's office. The department has revoked Cooper's license.

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Media Notes:

The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $310 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 $469 million in claims and premiums. Please visit the Department of Insurance website at Non-media inquiries should be directed to the Consumer Hotline at 800.927.4357. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.

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