Modesto Agent Arrested
A Modesto insurance agent/broker has been arrested and charged with 36 felony counts of insurance fraud stemming from a five-month joint criminal investigation conducted by the CDI and the Stanislaus County District Attorney’s Office.
The investigation focused on alleged fraudulent issuance of insurance certificates and failure to remit premium payments to insurers.
Luis Urena, of Modesto, operated his insurance business, Urena Insurance Agency, from an office in Salida. He is suspected of collecting premiums from consumers seeking coverage for homes, automobiles, and for commercial automobiles. Investigators believe that the bogus policies he sold brought in more than $75,000 in premium payments.
Urena also allegedly issued fraudulent insurance certificates and insurance identification cards to his clients, leading them to believe they had legitimate insurance coverage, when in fact they had no insurance to cover claims. Urena’s alleged insurance scam has resulted in numerous unpaid claims. The investigation revealed more than 100 victims with an estimated loss of more than $100,000.
- Florida AG Says His Office Investigating ‘Anti-Public Adjuster’ Endorsements in Policies
- Adjuster Created Law Firm and Fake Claim to Defraud Insurer of $1M, Officials Charge
- Reuters: DXC in Advanced Talks to Sell Insurance Software Unit for $2.4 Billion
- World’s Largest Retirement Community Set to Borrow $180 Million for More Homes