New Orleans Bail Bondsman Loses Insurance Licenses

The Louisiana Department of Insurance announced that a bail bond agent operating in the Greater New Orleans area and beyond signed a departmental “Consent to Voluntary Revocation” document, which revokes all producer licenses held by him.

“This brings to a satisfactory close a major battle in the Department’s war against insurance fraud. It’s a big win for the people of Louisiana,” said Insurance Commissioner Robert Wooley.

On Sept. 17, 2003, Department of Insurance Fraud Unit investigators served insurance agent Louis M. Marcotte III, 41 years old, and Bail Bonds Unlimited Inc., 1011 Fourth St. or 221 Derbigny Street, in Gretna, with a cease and desist order and a summary suspension of all bail bond and insurance licenses.

The C&D order enumerated a number of violations of the Louisiana Insurance Code including failing to remit to the company premiums collected on bail bonds, failing to pay bail forfeitures and allowing a bail bond agency to operate without an insurance license.

Department of Insurance records show that Marcotte first obtained a bail bond license in 1980.

Producer licenses listed in the voluntary revocation order include Louis M. Marcotte, III’s personal license, AAAA Bails Bonds & Recovery, 1011 Fourth St., Gretna; and Producer Licenses of Bail Bonds Unlimited Inc., of which Marcotte is 100 percent owner, with trade names and locations as follows:
-(no trade name) 221 Derbigny St., Gretna;
-Jefferson Parish Bail Bonds, 1011 Fourth St., Gretna;
-Angelinas Bail Bonds, 1011 Fourth St., Gretna;
-Freddie Haddad Bail Bonds, 1011 Fourth St. Gretna;
-Budget Bail Bonds, 1011 Fourth St., Ste 201, Gretna;
-Destiny Bail Bonds, 1011 Fourth St. Gretna;
-Plaquemines Bail Bonds, 1011 Fourth St., Gretna; and
-AA Bail Bonds, 1011 Fourth St. Gretna.

Also included were producer licenses of Marcotte National Inc., A Aaron Bail Bonds Inc., and AAAAA Bail Bonds Inc., all of 1011 Fourth St., Gretna.

Commissioner Wooley said anyone who has information about any kind of suspected insurance fraud should call the Department of Insurance at (800) 259-5300, statewide, or (225) 342-5900. Names of callers can be held confidential upon request.