Central Coast insurance agent sentenced for embezzling from employer
News: 2018 Press Release
After receiving a complaint from the insurance company, CDI investigators found that while working as an agent for the company, Jackson falsified insurance documents related to his own personal insurance claim. He also embezzled funds from the insurance company by writing multiple checks, totaling $4,388.92, to himself from the company's account.
"I have zero tolerance for agents who violate the principles of their license and rip off insurers or consumers for their own financial gain," said Insurance Commissioner Dave Jones. "Dishonest agents reflect poorly on the more than 350,000 licensed agents and brokers, most of whom do their best to be honest and professional in their business practices in California."
The department's investigation led to Jackson's arrest in November 2017. Jackson's agent license is revoked and he is barred from transacting the business of insurance. The case was prosecuted by the Santa Barbara County District Attorney's Office.
Media Note:
- Jackson pled guilty to one felony count of Insurance Code § 1871.4(a)(1) – Fraudulent Statements and was sentenced in Santa Barbara County Superior Court.
Led by Insurance Commissioner Ricardo Lara, the California Department of Insurance is the consumer protection agency for the nation's largest insurance marketplace and safeguards all of the state’s consumers by fairly regulating the insurance industry. Under the Commissioner’s direction, the Department uses its authority to protect Californians from insurance rates that are excessive, inadequate, or unfairly discriminatory, oversee insurer solvency to pay claims, set standards for agents and broker licensing, perform market conduct reviews of insurance companies, resolve consumer complaints, and investigate and prosecute insurance fraud. Consumers are urged to call 1-800-927-4357 with any questions or contact us at www.insurance.ca.gov via webform or online chat. Non-media inquiries should be directed to the Consumer Hotline at 800-927-4357. Teletypewriter (TTY), please dial 800-482-4833.
