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Fullerton insurance agent arraigned after allegedly embezzling over $35,000 in premium payments from clients

News: 2022 Press Release

For Release: December 1, 2022
Media Calls Only: 916-492-3566
Email Inquiries: cdipress@insurance.ca.gov

Fullerton insurance agent arraigned after allegedly embezzling over $35,000 in premium payments from clients

ORANGE COUNTY, Calif. — Angelica Maria Holst, 54, of Fullerton, was arraigned this week on four felony counts of theft after an investigation by the California Department of Insurance found she allegedly embezzled over $35,000 from several clients while working as a licensed insurance agent and operating her own business.

The investigation began after receiving a complaint against Holst alleging that while working as a licensed insurance agent and operating her business, Highway & Environmental Services, Inc., she failed to remit commercial insurance policy payments from several victims. Instead of submitting the collected funds to her managing general agent for the policies, Holst pocketed the payments for personal use.

The investigation found that between July 2018 and December 2018, Holst embezzled a total of $35,789 in premium commercial insurance policy payments from multiple victims meant to secure policies. Holst’s managing general agency stepped in to cover the losses so that no client had a lapse in coverage and were left uninsured.

The Department of Insurance has filed an accusation against Holst and is seeking to revoke her insurance license.

Holst is scheduled to return to court on January 19, 2023. This case is being prosecuted by the Orange 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.

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