Calif. Agent Charged with Grand Theft

Grand theft charges were filed against a licensed agent and owner of California-based SAAB Insurance Services.

Irma Hernandez, 33, of Downey, was arrested and charged with two felony counts of grand theft and booked into Los Angeles County Jail. Bail was set at $40,000.

According to CDI’s Investigation Division, Hernandez reportedly sold fraudulent insurance policies to consumers and collected premiums of approximately $2,900, but never submitted the money to any insurance company. Hernandez’s activities left a victim without valid automobile coverage and exposure to an uninsured loss of $7,000 following an auto accident. The victim believed he was insured at the time of the accident.

Hernandez reportedly primarily targeted Latino consumers in the Los Angeles and South Gate areas. CDI investigators suspect there may be more victims in this case.