LOUISIANA AGENT SHUT DOWN:

Louisiana Insurance Commissioner J. Robert Wooley said Department of Insurance Fraud Unit investigators served New Orleans agent, Tanya Maria Price, with cease and desist orders and suspended her individual and agency insurance licenses, for allegedly submitting 21 fraudulent annuity applications and misappropriating funds. Price and New Legacy LLC insurance agency, 3520 General De-Gaulle St., Suite 4070, New Orleans are prohibited from conducting any kind of insurance business in the state of Louisiana. Along with submitting the fraudulent applications, Price is charged with misappropriating the $91,836 she received from a retired teacher of the Orleans Parish School System that was to be used to purchase an annuity. The C&Ds also note that, on April 28, she entered into an agreement with the United States Attorney to plead guilty to mail fraud and wire fraud in connection with fraudulent insurance activities. Price had held a life and health insurance license since July 19, 1994. Anyone with information about any kind of suspected insurance fraud should call the Department of Insurance at (800) 259-5300, statewide, or (225) 342-5900. Names of callers can be held confidential upon request.