LOANS LEAD TO AGENT’S ARREST:

The Louisiana State Police Fraud Unit arrested a Leesville, La., insurance agent and Department of Insurance Fraud Unit investigators issued the man a Cease and Desist Order and Summary Suspension of his license for allegedly fraudulently obtaining loans from his customers’ life insurance policies by forging their names on loan applications. According to the Louisiana Department of Insurance, investigators served Elexson Ellias, Jr., 60, with the C&D order and license suspension at the time he was arrested on charges of insurance fraud. The LDI order states that Ellias forged the signatures of customers on life insurance policies in order to obtain the cash loan value of those policies. The cumulative monetary value of the reportedly fraudulent loans was approximately $11,800. The order further states that Ellias is prohibited from engaging in any activity relating to the business of insurance, effective immediately. LDI records show that Ellias held a life and health insurance license from December 1991 until the suspension. He also held a property and casualty (industrial fire) license from November 1994 to May 2003, as well as an Auto Club license from December 1994 until the current suspension.