Indiana state regulators are seeking more than more than $365,000 from a former insurance agent for misusing money from premium payments made by more than 100 customers.
The state Department of Insurance on Thursday permanently revoked the license of Daneile Frydrych, the owner of All Star Insurance in South Bend. That action following allegations that she spent money intended for customers’ home and vehicle policies at casinos in Las Vegas and Michigan City, at clothing and book stores, and at a local adult entertainment store.
The agency’s order included a $285,000 fine against Frydrych and said customer losses exceed $80,000.
Regulators will forward the case to the state attorney general’s office for collection, said Nick Mann, investigations chief at the insurance agency.
“This brings some amount of closure to the case,” Mann said. “I know everyone wants their money back. We’ve tried to be realistic from the get-go that that might not happen, and I think people are aware of that.”
One of Frydrych’s customers, Elizabeth Fuentes, said she paid $1,300 for a home insurance policy, but ended up with nothing.
“Frydrych would probably be best to do some time and learn a good lesson in jail,” Fuentes said.
Frydrych did not attend a Dec. 28 hearing by regulators on the allegations. She could not be located for comment as no home phone number was listed in her name in the South Bend area.
No criminal charges have been filed in the case.
Was this article valuable?
Here are more articles you may enjoy.