On December 2nd, 2022

Fullerton Insurance Agent Arraigned for Allegedly Embezzling Clients’ Premium Payments A CDI investigation

“CDI investigators and detectives have demonstrated over the years, their commitment to holding lawbreaking insurance agents accountable for their crimes.  CDI has also worked to make public their many investigations, as a deterrent to those agents even giving thought to stealing from their clients.  It is just a matter of time before CDI catches up  with agents who steal.” – CSLEA President Alan Barcelona

ORANGE COUNTY— On December 1, 2022, the California Department of Insurance (CDI) announced the arraignment of Angelica Maria Holst, 54, of Fullerton, on four felony counts of theft.  An investigation by CDI found she allegedly embezzled $35,789 from several clients while working as a licensed insurance agent and operating her own business.

The investigation began after a complaint against Holst was made alleging that while working as a licensed insurance agent and operating her business, Highway & Environmental Services, Inc., she failed to remit commercial insurance policy payments from several victims. Instead of submitting the collected funds to her managing general agent for the policies, Holst allegedly pocketed the payments for personal use.

The investigation found that between July 2018 and December 2018, Holst embezzled $35,789 in premium commercial insurance policy payments from multiple victims meant to secure policies. Holst’s managing general agency stepped in to cover the losses so that no client had a lapse in coverage and was left uninsured.

CDI has filed an accusation against Holst and is seeking to revoke her insurance license.

Holst is scheduled to return to court on January 19, 2023. This case is being prosecuted by the Orange County District Attorney’s Office.

 

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