Former insurance agent charged with fraud; more than $400,000 in insurance premiums were allegedly stolen.LOS ANGELES--(BUSINESS WIRE)--June 12, 1996--A probe conducted by the Department's investigation Bureau led to the arrest of a former El Toro El To·ro An unincorporated community of southern California southeast of Santa Ana. Founded in the 1890s, it is mainly residential. Population: 62,685. insurance agent who allegedly stole more than $400,000 in insurance premiums. Melvin Maurice Katz, 59, of Mel Katz Insurance Services was booked on May 17, 1996, for selling fraudulent workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. and business liability insurance policies. He was returned to California by the Department's Fraud Division investigators from Florida, where he had been serving time for jumping bail on an unrelated charge. Arraigned on June 7, he is being held at the Orange County jail; his bail is set at $500,000. Katz, a former Laguna Hills La·gu·na Hills A city of southern California southeast of Santa Ana. Population: 33,600. resident, was charged with 36 counts of forgery, grand theft and embezzlement embezzlement, wrongful use, for one's own selfish ends, of the property of another when that property has been legally entrusted to one. Such an act was not larceny at common law because larceny was committed only when property was acquired by a "felonious taking," i. of insurance premiums from consumers and insurance companies. His next court appearance is June 18. "Scam artists never win when playing the game of insurance fraud," said Insurance Commissioner Chuck Quackenbush. "The only prize these cheats get is a free trip to jail." CONTACT: California Department of Insurance The California Department of Insurance (CDI), established in 1868, is the angency charged with overseeing the regulation of insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in the state Sheri Inouye, 213/346-6370 Richard Wiebe, 916/324-2515 |
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