Victims scammed by former insurance broker receive restitution
LOS ANGELES, Calif. – Christopher Emery, 33, of Downey, formerly a licensed insurance broker doing business as CPE Insurance Services, was charged onMay 29 with seven felony counts of grand theft. Emery collected insurance premium payments from customers and failed to forward their money to insurers. Emery pleaded no contest to all charges and by order of the court, returned $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.
“Emery violated his fiduciary responsibility as a trusted insurance broker and left consumers exposed to significant financial risk,” said Insurance Commissioner Dave Jones. “Insurance agents and brokers must be held to the highest standard of honesty and integrity. Emery’s greed led him to break that standard.”
Investigators from the California Department of Insurance discovered that between March 2012 and November 2013, Emery collected over $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 department’s Investigation Division in
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