Louisiana Insurance Commissioner Robert Wooley announced that two insurance agents, Jonathan Horace Jones and his wife Cindy Marie Jones, both of New Iberia, were arrested and their insurance agency was shut down for alleged misappropriation of insurance funds.
Department of Insurance Fraud Unit investigators served the Joneses and their agency, Affordable Insurance Agency of New Iberia, with Cease and Desist Orders on charges of misappropriation of insurance funds and theft. These actions were taken following the arrests of the Joneses by members of the State Police Fraud Unit. The collaborative effort of the Insurance Department and the State Police was part of a continuing series of shutdowns of illegal operations in the insurance industry.
The DOI C&D order alleges that the Joneses misappropriated insurance premiums on at least three occasions. It further states that they, and their agency, are prohibited from engaging in any activity relating to the business of insurance, effective immediately. In addition, they are subject to fines and other penalties for the activities outlined in the orders.
The DOI said Jonathan Horace Jones has held a life and health insurance license since 1987 and that the Property and Casualty license he had held since 1990 expired in May of this year.
Cindy Marie Jones has held a life and health license since 1987, and the Property and Casualty license she had held since 1996 also expired in May of this year.
The license of the Affordable Insurance Agency included a life and health license, held by the Joneses from 1991 to 1998, and a property and casualty license obtained in 1996 and cancelled in May 2002 at the request of Mr. & Mrs. Jones.
Department addresses for one or more of the three licenses—all in New Iberia—include: PO Box 9278, 70562; 109 Iberia Street, 70560; 711 South Lewis Street, 70560; 1102 East Admiral Doyle Drive, # 15, 70560; and 1617 Zez Street, 70568.
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