Former Agent Pleads Guilty to Fraud Charges in La.

Louisiana Attorney General Charles C. Foti, Jr., announced that Phyllis Malveaux Breaux of Lafayette, a former licensed insurance agent, pled guilty on June 27, 2005, to felony theft over $500 before Judge Jules Edwards in the 15th Judicial District Court.

According to the AG’s office, Breaux sold insurance to customers and then pocketed their premium payments, rather than forwarding them to insurance companies.

Breaux was placed on one-year active supervised probation and ordered to pay restitution in the amount of $2,128.54. She is also permanently banned from the insurance business, having been ordered not to apply or reapply for an insurance license in Louisiana or any other jurisdiction.

The Attorney General’s Office is a member of the Insurance Fraud Task Force, which includes the Louisiana State Police and the Louisiana Department of Insurance.