Former California Agent Ordered to Pay Restitution for Premium Theft

Christopher Emery, 33, of Downey, Calif. formerly a licensed insurance broker doing business as CPE Insurance Services, has plead guilty to seven felony counts of grand theft for stealing insurance premiums.

Emery collected premium payments from customers and failed to forward their money to insurers.

Emery pleaded no contest to all charges and was ordered to return $15,307 in restitution to former clients. He was also sentenced to 10 days in county jail, 90 days of community labor and five years of formal probation.

Investigators from the California Department of Insurance discovered that between March 2012 and November 2013, Emery collected more than $15,000 in premiums for general liability insurance policies from several clients and used the money for personal expenses, rather than sending payments to insurers.

This case was investigated by the California Department of Insurance Investigation Division and was prosecuted by the Los Angeles County District Attorney’s Office.