“Consumers and business owners put trust in their insurance agents and those who betray that trust by illegal means must be investigated.  We appreciate the consumer protection work conducted by CDI investigators and detectives.”

– CSLEA President Alan Barcelona

FRESNO— According to the California Department of Insurance (CDI), on March 4, 2024, formerly licensed insurance agent Marcia Wable, 66, of Clovis, was arraigned on eight felony counts of embezzlement, forgery, and false impersonation after a CDI investigation found she allegedly stole more than $380,000 from fraudulent insurance policies and used the money for her personal use.

CDI’s investigation began after an insurance company claimed Wable issued a fraudulent commercial excess auto liability policy. The investigation revealed the policy was fraudulent and Wable was allegedly pocketing fraudulent premiums from various businesses, misappropriating the money for her personal use, and falsely impersonating businesses in a private or official capacity.

The investigation also found Wable allegedly issued a total of 15 fraudulent insurance policies and five policy endorsements resulting in premium theft of more than $216,000.  It is alleged Wable also fraudulently submitted finance agreements for three dissolved businesses to illegally collect over $165,000 and deposited those funds into accounts she controlled and used them for her own business and other personal expenses.

CDI revoked Wable’s license on October 4, 2023. This case is being prosecuted by the Fresno County District Attorney’s Office.