“CDI investigators and detectives work to protect consumers by investigating complaints and possible criminal activity in the insurance industry. Theft of premiums by unscrupulous agents puts clients at risk of financial harm.”
CSLEA President Alan Barcelona
LOS ANGELES — On November 3, 2023, licensed insurance agent Vlada Cruz, 40, of Encino, was arraigned on two felony counts of grand theft after a California Department of Insurance (CDI) investigation found she allegedly stole more than $37,000 in insurance premiums, leaving her client’s business uninsured.
According to CDI, the investigation began after a complaint from one of Cruz’ clients alleging that Cruz failed to forward their collected insurance premium to the insurance carrier during 2020 and 2021. Cruz’ actions resulted in the client losing more than $37,000, and left the client’s business without insurance coverage for two years.
The evidence obtained during the investigation found that Cruz allegedly embezzled two policy premium payments over two years, totaling $37,362. Cruz is also accused of issuing fraudulent policy documents to her client, in order to deceive the client into believing the client was properly insured.
CDI is taking action against Cruz’ license. This case is being prosecuted by the Los Angeles County District Attorney’s Office.
