Long Beach insurance agent arrested after allegedly stealing thousands and leaving client’s business uninsured
News: 2020 Press Release
LONG BEACH, Calif. — Department of Insurance detectives today arrested insurance agent Gelinda Phann Keo, 43, on one felony count of grand theft after she allegedly pocketed a client’s insurance payment of $5,500, leaving that client’s business uninsured.
"This agent allegedly stole money from a hardworking business owner, leaving them uninsured and financially vulnerable,” said Insurance Commissioner Ricardo Lara. “My Department will continue to investigate agents who use their position of trust to take advantage of their clients and bring them to justice.”
The Department of Insurance found Keo, doing business as Global Cargo Insurance Agency, collected $5,500 in premium payment for a cargo policy for a client’s business that included international bonds. The client was notified customs could not verify the bonds, which caused delays in shipments. The insurance policy Keo secured had been cancelled due to non-payment of premium leaving the business without insurance coverage for months. The client paid an additional $5,500 to the insurance company in order to obtain a valid insurance policy.
An Administrative Action by the Department against Keo’s license is pending. Keo was booked at Century Regional Detention Facility and bail is set at $70,000. This case is being prosecuted by the Los Angeles County District Attorney’s Office.
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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.