Long Beach insurance agent arrested for identity theft and forgery
News: 2019 Press Release
LONG BEACH, Calif. — Insurance agent Richard Valdriz, 52, has been charged with thirteen felony counts including identity theft, forgery, and grand theft after an investigation by the California Department of Insurance found that he had allegedly used the identity of policyholders to renew their auto insurance policies without their knowledge or consent to receive $4,555 in commissions.
Valdriz’s clients’ insurance policies had lapsed and they had not requested renewal. Without his clients’ knowledge or consent, Valdriz renewed his clients’ cancelled policies by electronically forging their signatures in order to submit and obtain a renewal of the insurance policy. Valdriz then submitted bogus premium payment receipts to the insurance carrier in order to collect commissions.
An arrest warrant was issued on October 17, 2019 and yesterday Valdriz turned himself into the Los Angeles County Superior Court.
The department will be taking action against Valdriz’s license. This case is being prosecuted by the Los Angeles County District Attorney’s Office.
# # #
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 www.insurance.ca.gov. Non-media inquiries should be directed to the Consumer Hotline at 800-927-4357. Teletypewriter (TTY), please dial 800-482-4833.