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Former Property and Casualty Broker pleads guilty to misappropriation of fiduciary funds

Patrick Storm
May 6, 2014 3:53 PM

Orange County, Calif. - James Ba Nguyen, 42, a former Orange County resident stole premium funds from a property insurance policy and issued a fake proof of insurance certificate to an unrelated policyholder C. Nguyen. Additionally, in October 2010, CDI was contacted by another victim who claimed Nguyen stole the premium payments from another property insurance policy and issued a fake proof of insurance certificate to an unrelated individual named D. Nguyen.

Nguyen plead guilty in Orange County Superior Court, West Justice Center to two misdemeanor counts of misappropriation of fiduciary funds. Nguyen was sentenced to three years of probation, 240 hours of community service, ordered to pay restitution to the Victims and an additional $2,000.00 to the Victim Witness Emergency Fund. 

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Media Notes:

  • On February 18, 2014, Nguyen surrendered himself and was arraigned in Orange County Superior Court.
  • Nguyen was released on a $20,000.00 bail bond.
  • This case was investigated by the Investigation Division, Criminal Operations - Point of Sale [C.O.P.S.] Unit and was prosecuted by the Orange County District Attorney's Office.
  • On or about December 2008, Nguyen sold a $677.00 property policy to Victim #1 and it remained undetected until December 2009 when the victim attempted to file a claim for damage on the policy.
  • On or about September 2009, Nguyen, sold a $615.00 property policy to Victim #2. Victim #2 was informed by SafeCo that the policy Nguyen sold was fraudulent. 
  • On February 4, 2013, the case was referred to the Orange County District Attorney's Office. On April 23, 2013, a warrant was issued for Nguyen's arrest.
  • Nguyen's insurance license (0B52398) was revoked in September 2013.



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