CE CREDIT SCAM INVOLVES AGENTS

Louisiana Attorney General Charles C. Foti, Jr. announced that Leo Vincent Jacob of Covington, La., has pled guilty to six counts of filing false public records in a criminal scheme that involved hundreds of insurance agents across Louisiana.

Over the past year and a half, the AG’s Insurance Fraud Support Unit has been investigating hundreds of licensed insurance agents for submitting bogus continuing education credits to the Louisiana Department of Insurance. Jacob was the continuing education instructor who provided bogus CE credits to all insurance agents involved in this investigation. Jacob is alleged to have furnished certificates of completion to numerous agents, when in fact no such courses had been attended or taught. License renewal applications filed with the DOI must have continuing education certificates or a renewal cannot be granted.

The AG’s Insurance Fraud Support Unit is part of the Louisiana Insurance Fraud Task Force, which also includes the Louisiana State Police and the Louisiana DOI.

Jacob will be sentenced on June 3, 2005, in the 19th Judicial District Court in Baton Rouge.