Marina del Rey dentist arrested for identity theft in life insurance fraud scheme
News: 2019 Press Release
LOS ANGELES, Calif. — Licensed dentist and licensed insurance agent Milagros Macaraig, 56, of Marina del Rey, was arraigned this week on multiple counts of identity theft after allegedly using patient information to apply for life insurance policies without the patients’ knowledge in order to receive commissions.
An investigation by the Department of Insurance found Macaraig used the identity of two of her patients without their knowledge to sign them up for life insurance policies without their consent or knowledge. Macaraig, as a licensed insurance agent, was able to collect commissions on the applications. Her alleged scheme was an attempt to change her commission structure because the more clients she had, the larger her future commissions would be.
Macaraig submitted the life insurance applications with an electronic signature and paid the initial premium with a money order. The victims were initially made aware of the life insurance policies when they were contacted by their insurer during the underwriting process before any commissions were collected.
This case is being prosecuted by the Los Angeles County District Attorney’s Office. The department is searching for more victims. If you have any information regarding this case please contact the department at 323-278-5000.
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.
