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CA Department of Insurance
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CA Department of Insurance

UPDATED - Glendale insurance agent arrested for grand theft and fraud

News: 2018 Press Release

For Release: September 5, 2018
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Glendale insurance agent arrested for grand theft and fraud


Criminal charges against Nadja Ocampo were dismissed on May 22, 2019 because of the statute of limitations. Administrative charges still stand. On July 7, 2019, Ocampo signed a Stipulation and Waiver, agreeing to a 4-year restricted license, a $1000 cost reimbursement and that she take four hours of continuing education courses in ethics.

LOS ANGELES, Calif. — Nadja Fuentes Ocampo, 63, of Glendale, was arrested and charged with multiple felony counts of grand theft and insurance fraud after allegedly acting as a licensed insurance agent to steal $10,000 from a trusting client.

"Ms. Ocampo allegedly violated her fiduciary responsibilities and the trust of her client and her employer, "said Insurance Commissioner Dave Jones. "I have zero tolerance for agents and brokers who use their position of trust to scam and victimize California consumers."

Ocampo, a licensed insurance agent, was appointed by a major insurance carrier to sell life insurance products. An investigation by the California Department of Insurance revealed that Ocampo allegedly encouraged a client to withdraw $10,000 from her life policy and engage in an investment with a hand-written agreement. The victim in this case, was told by Ocampo that the investment was safe because the investment funds were allegedly going to be with the same insurance carrier the money was originally drawn from. The investment was actually an unqualified security in the form of a hand-written investment contract. At the end of the agreement, Ocampo did not return the $10,000 to her client and used the money for her own personal gain. Ocampo was terminated by the insurance company after her client reported the incident.

Ocampo has been charged on one felony count of grand theft, one felony count of selling an unqualified security, and one count of providing a false statement to sell a security.

This case is being prosecuted by the Los Angeles 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 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.

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